TMCnet News
Austin Ventures sells 724 Solutions to Mobixell NetworksJan 21, 2010 (Datamonitor Financial Deals Tracker via COMTEX) -- Austin Ventures has sold 724 Solutions, Inc., a mobile internet company, to Mobixell Networks, Inc., a provider of mobile multimedia and advertising solutions. All the parties involved in the transaction are based in the US. Earlier in 2006, Austin Ventures had acquired 724 Solutions for approximately $18.5 million. Deal Type Private Equity Sub-Category Exit Deal Status Completed: 2010-01-21 Deal Participants Target (Company) 724 Solutions, Inc. Acquirer (Company) Mobixell Networks, Inc. Deal Rationale The acquisition will allow Mobixell Networks to focus on delivering rich media mobile internet and messaging solutions for mobile operators. It will also allow Mobixell Networks to strengthen its position in the mobile internet and mobile broadband markets. |