Indian mobile technology firm IMIMobile completes acquisition of the UK’s WINplc at a cost of $26 million

India’s IMIMobile Thursday concluded its UK investment for which it was to acquire the UK’s WINplc. The Hyderabad based IMIMobile is a provider of mobile technology. Its acquisition of the UK firm was done at an investment of $26 million, marking the firm’s first major investment overseas.

The UK based WINplc is a mobile content and services firm with revenues of approximately $60 million. IMIMobile chief executive officer and founder, Vishvanath Alluri noted the benefits of the deal; stating that it offers the firm an enhanced access to major European Mobile operators through the resultant combined entity.

The enhanced European access will further be bolstered by the fact that WIN already has both technical and customer relationships with Tier 1 European operators. The new merged firm is expected to boast a workforce of 650 individuals and will provide managed mobile services to more than 100 operators and business in 70 countries. Graham Rivers, WIN’s Chief Executive Officer will stay on as executive director of IMIMobile in the new structure.

According to Rivers, IMIMobile and WIN are a perfect match, and as such the resultant entity will mainly target European telecoms and media firms facing stagnant markets with a range of solutions designed to reduce costs and increase revenue in non-voice mobile operations. IMIMobile brings global scale to WIN’s European expertise, he said.

IMIMobile is a privately held company funded by private equity investors including Sequoia Capital, UK-based Spark Ventures, and US-based Firstmark Capital. WINplc has been delisted as a result of the acquisition. The acquisition was financed by IMIMobile’s PE investors, internal accruals, and debt of USD 9 million.

IMIMobile provides managed mobile services to customers like Star, Idea, Orange and MTN. WIN specializes in providing companies with customer management and communication solutions, and its client list includes names like T-Mobile, Orange, Cenrical AOL , Vodafone, and E-On. Based in Buckinghamshire, it also has offices in Greece and Kuala Lumpur.

WIN is an industry leading mobile services provider and runs operations for mobile networks. The firm creates mobile marketing campaigns for brands and makes it easier for businesses – from broadcasters to logistics companies and banks to utilities – to attract and retain their customers.

WIN has customers in over 20 countries around the world and its systems manage 40 million text messages and 4 million picture & video messages every month, delivered within strictly defined Service Level Agreements (SLAs).

21 Oct 2010.