Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


Nexit Ventures Exits Mobile 365
Shares Acquired by Sybase, Inc.


Helsinki, Finland September 7, 2006 Nexit Ventures, a venture capital firm focused on mobile technologies and services, has agreed to sell its share of Mobile 365, the global leader in mobile messaging and content delivery, to Sybase, Inc. (NYSE:SY), a leading provider of enterprise infrastructure and mobile software.

Sybase, Inc. (NYSE:SY) announced on September 5, 2006 that it has signed a definitive agreement to acquire Mobile365, the global leader in mobile messaging and content delivery, in an all cash transaction. The purchase price set forth in the definitive agreement is $425 million, and the transaction is expected to close in the fourth quarter of 2006, subject to regulatory approvals and other specified closing conditions.

Nexit Ventures made its initial investment in Mobile 365 in the company's first institutional round in September 2000 together with Vertex Technology Fund. In subsequent rounds, Mobile 365 attracted additional funding from leading venture capital firms such as Mayfield, 3i and IVP, as well as from Intel, VISA and Citicorp.

In the spring of 2005, Patrice Peyret, co-founder and long-time CEO of Mobileway, joined Nexit as Venture Partner. Mr. Peyret continued as part-time Chief Strategy Officer of Mobile 365.

'The acquisition of Mobile 365 comes on the heels of our exit from mobile graphics technology provider Hybrid Graphics in March. This latest acquisition of a Nexit portfolio company by a leading US-based technology player further validates our successful strategy of choosing high-value investment opportunities in the wireless ecosystem,' said Michel Wendell, General Partner, Nexit Ventures.

Mobile 365 leads the world in the global delivery and settlement of mobile messaging and data services, including SMS, MMS and WAP. The company delivers 3.5 billion messages per month for nearly 700 mobile operators around the world.

Nexit's other portfolio companies include the Finland-based Ekahau, Futuremark and Hantro, as well as the US-based Bitfone and Ecrio.


Further information:
Michel Wendell, General Partner, Nexit Ventures; tel. +1 408 406 6995; michel.wendell@nexitventures.com

Christina Forsgard, Netprofile Finland; tel. +358 9 6812 080; christina@netprofile.fi


About Nexit Ventures
Nexit Ventures is a venture capital firm focused on mobile technologies and services. Investments are made primarily in Nordic and US-based early-stage companies with products and services for a global market. For Nordic companies, Nexit's network of business contacts in Silicon Valley provides a bridge to markets, partners, experienced management and investors at an early stage. US-based ventures get an opportunity to profit from the market-leading wireless network infrastructure, technology, insight, and advanced user base of the Nordic countries. Nexit has offices in Helsinki, Stockholm and Silicon Valley. For further information, please visit www.nexitventures.com.


About Mobile 365
Delivering 3.5 billion messages per month, Mobile 365 leads the world in the global delivery and settlement of mobile messaging and data services, including SMS, MMS, and WAP. With reach to nearly 700 mobile operators around the world, Mobile 365 is at the forefront of mobile interoperability messaging and the distribution of premium content and value-added services. Headquartered outside of Washington, D.C., Mobile 365 has offices in Beijing, Guangzhou, Hamburg, Hong Kong, Johannesburg, Kuala Lumpur, London, Madrid, Mexico City, Milan, New Delhi, Paris, San Francisco, Shanghai, Singapore, Sydney, and Taipei. Major operator customers include Verizon Wireless, Vodafone, Cingular Wireless, T-Mobile, Telcel, Orange, Telefonica, O2, China Mobile, China Unicom, Hutchison, and Amena. Major brand customers include Skype, Volvo, Sony Pictures, MSN, Citibank, Siemens, Ogilvy, Yahoo!, and Dunkin' Donuts. For more information, visit www.mobile365.com.
xx


Publisher Contact Information:

Nexit Ventures Oy
+1 408 406 6995
michel.wendell@nexitventures.com

Company profile of Nexit Ventures Oy
Past press releases of Nexit Ventures Oy.

Data


27,730
Tech investments
From our Online Data Service
17,884
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Dec 21€50.0MKnowledge management
Dec 20€16.0MSemiconductors
Dec 17€18.0MOther Computers & Electronics
Dec 17€5.2MBiotechnology
Dec 17€17.0MBusiness applications
Dec 15€17.0ME-Commerce
Dec 4€3.3MNanotechnology

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


Sep 30
TetaVi
tetavi raises $6 million to help more companies bring 3d holograms ...

May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Mar 31
CompPair
the fit allocates chf 100'000 to comppair technologies

Jan 29
Yumpingo
yumpingo raises $10m to transform guest experiences in restaurants





About usContact usLegal Information
Copyright 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.