Europe's mBlox and America?s MobileSys Merge and raise $8 Million To Create New World Leader in SMS Services
London and San Francisco, 24th June 2003
A global leader in the field of Short Message Services (SMS) has been created by the merger of mBlox Ltd, Europes leading SMS services provider and MobileSys Inc., the premier US provider of SMS services to corporations. This merger provides a defining moment in the mobile messaging market, as it creates a financially strong global player from two complementary leading companies.
As part of the transaction venture capital and private equity totalling $8 million has been raised to finance planned expansion. Participants in the financing included Norwest Venture Partners, Duff Ackerman Goodrich, Novus Ventures and Bank of America. The round was led by Norwest Venture Partners and Duff Ackerman Goodrich.
The combined company, mBlox Inc., will be headquartered in London with an...