mBlox Ltd, Europe's leading short message services (SMS) provider has merged with MobileSys Inc., the premier U.S. provider of SMS to corporations. This merger creates a financially strong global player from two complementary leading mobile messaging companies.
As part of the transaction the combined company has raised $8 million to finance planned expansion. The round was led by Norwest Venture Partners and participants included Novus Ventures, Duff Ackerman Goodrich and Bank of America.
The combined company, mBlox Inc., will be headquartered in London with an operational center in Sunnyvale, CA. It will be led by MobileSys CEO Chip Hoffman. mBlox CEO Andrew Bud becomes chairman and president.
"This merger of two strong leaders, fuelled by a major investment, creates a technical and financial powerhouse in the SMS services market,” said Andrew Bud. “This sector is ready for consolidation and with our financial muscle and market position we will drive this process forward. mBlox has been a profitable company since early 2002 and has made a major impact in the European market. Combined with MobileSys' premier position amongst the Fortune 100, we will be in an enormously strong position as the U.S. market for SMS explodes."
Bud noted, "SMS is a huge media channel in Europe, where content services and marketing are now a substantial portion of the 10 billion messages sent every month. The U.S. has recently introduced the service and already over 1 billion SMS are sent per month and forecast to approach European levels within the next 18-24 months. Content and service providers are eagerly awaiting the opportunity to leverage their brands and content across both continents. By enabling them to overcome the complexities of multiple operators, networks and technologies, only mBlox can help them succeed."
mBlox, based in London, is Europe's leading provider of SMS transmission services to European content and applications providers. It has premium-rate SMS services in 12 countries and is unique in owning and operating its own short message service center (SMSC).
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