Sybase is paying US$425 million to buy the messaging vendor, Mobile365. For its fiscal year ended March 31, 2006, Mobile 365 generated approximately US$90 million in revenue. Sybase sasy that it expects the acquisition to be accretive to pro forma earnings within 12 months following the close of the transaction.
Mobile 365 delivers more than 3 billion messages per month and has approximately 700 connections into mobile operators around the world, including Verizon Wireless, Vodafone, T-Mobile, Cingular, Telefonica, and China Mobile.
"This acquisition extends our Unwired Enterprise vision with the addition of two new enterprise channels - wireless carriers and content providers - making Sybase the leading mobile enterprise software and services provider in the world," said John Chen, Sybase chairman, CEO and president. "The mobile messaging market in the U.S. alone is expected to grow to $7.5 billion by 2008. Getting closer to this exploding mobile market through carriers is a key extension of our Unwired Enterprise strategy. Mobile 365 brings unparalleled breadth and depth of carrier relationships and the largest mobile messaging and content delivery platform, solidly positioning Sybase between carriers, global brands and mobile content."
Following the closing of the transaction, Mobile 365 will operate as Sybase Mobile 365, a wholly-owned subsidiary. The new subsidiary will be led by Marty Beard, Sybase's senior vice president of corporate development and marketing, who will be named president of Sybase Mobile 365.
Headquartered in Chantilly, Virginia, Mobile365 is privately held and backed by venture capital firms including Draper Fisher Jurvetson, Draper Atlantic Venture, 3i Technology Partners, Institutional Venture Partners, and Mayfield.
Mobile365 was formed from the merger of InphoMatch and Mobileway just over 2 years ago."
Posted to the site on 7th September 2006
Posted to: www.cellular-news.com/story/19196.php