SpinVox Picks Goldman Sachs to Explore Possible Float - Source

LONDON (Dow Jones)--SpinVox, the privately held mobile phone company that converts voice messages into text, has appointed Goldman Sachs Group as an adviser to raise further funding, a person familiar with the situation said Monday.

The bank will look at a number of financing options, including a possible float, which would value the business at around GBP200 million, the person said.

In an interview with Dow Jones Newswires last month, SpinVox Co-founder and Chief Strategy Officer Daniel Doulton said the company has already raised $100 million, but is looking for further funds to expand into Latin America and the U.S.

SpinVox, whose customers include Alltel, Rogers Wireless, Telstra and Vodafone Group, plans to double revenue to $100 million in 2009 from $50 million in 2008.

-By Daniel Thomas, Dow Jones Newswires; 44-20-7842-9264; dan.thomas@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 10th March 2008