News

Velti Acquires Mobile Interactive Group, Extending Its Lead as World's Largest Mobile Marketing Company

Rainmaker Capital Web — Mon, 14 Nov 2011 18:07:50 +0000

San Francisco, CA and London. November 15, 2011

Velti plc (Nasdaq:VELT), the leading mobile marketing and advertising technology provider for brands, advertising agencies, mobile operators and media, today announced the acquisition of Mobile Interactive Group ("MIG"), the UK's largest mobile marketing company. The acquisition expands Velti's lead as the world's largest mobile marketing company based on revenue, customers, consumer reach and technology holdings.

With more than $100 million in gross billings, more than $20 million in net revenues in 2010, and more than 160 employees MIG has established itself as a leading mobile marketing player. The company's global partnership with Skype, its Facebook Preferred Developer Consultant status and the launch of its mobile / broadcast interactive platform have won MIG accolades as a pioneer in bridging social media, mobile marketing and commerce transactions. Earlier this year, Deloitte named MIG the fastest growing privately owned technology firm in Europe.

MIG offers mobile marketing, mobile commerce and mobile billing services in 44 countries and has operations in the UK, US, Netherlands, Belgium and Australia. The company's technology platform is used by more than 300 enterprise customers including Skype, Vodafone, O2, PepsiCo, ITV, FIVE, Fremantle, BBC, Sony, Barclaycard, Marks & Spencer and NewLook. MIG's mobile interactive technology is used by broadcasters in Europe and the Asia Pacific region for real-time social media interactions through the mobile platform.

Visit the Velti website.

Rimage Signs Definitive Agreement for Acquisition of Qumu

Rainmaker Capital Web — Mon, 10 Oct 2011 16:32:00 +0000

Enters Rapidly Growing Enterprise Video Communications Market with Industry Leader

Transaction Valued at $52 Million, Consisting of $39 Million in Cash and One Million Shares of Rimage Common Stock

Qumu Expected to Grow Revenue More Than 40% in 2012

Rimage Board Approves 70% Dividend Increase to $0.17 per Share

Minneapolis, MN – October 10, 2011 – Rimage Corporation (Nasdaq: RIMG), the industry-leading provider of on-demand CD/DVD/Blu-ray Disc™ publishing systems, today announced that it has signed a definitive agreement for the acquisition of Qumu, Inc., the leader in enterprise video communications. The acquisition provides Rimage with a strong presence in the rapidly growing video communications market with an established partner, serving 100 Global 1000 customers and generating strong revenue growth. The purchase price totals $52 million, consisting of $39 million in cash and one million shares of Rimage common stock. The transaction is not subject to any regulatory conditions or shareholder approvals and is anticipated to close within 24 hours.

“Qumu is a cornerstone acquisition for Rimage and immediately positions us as a leader in the growing market for video communications and social enterprise applications for business,” said Sherman Black, president and chief executive officer of Rimage Corporation. “The Qumu acquisition accelerates Rimage’s strategy to distribute live, on-demand, downloaded and optical media content for a broad range of applications, on any mobile or desktop device. This acquisition significantly expands our market to new enterprise customers and offers opportunities for cross-selling to the installed base of customers of both Rimage and Qumu.”

Qumu helps corporations create, manage and securely distribute video and related content and provides analytics on content usage. With an estimated total available market of $2 billion, it serves companies in banking, technology, and telecom, among other industries, as well as universities and government agencies. It sells its products through a direct sales force and through premier distribution partners, including Sony and AT&T.

Qumu’s revenue has increased more than 45% per year over the past three years. In 2010, it generated $10.3 million in revenue and it is on track to achieve approximately $15 million in 2011. Based on current opportunities and expectations, Qumu is expected to generate approximately $21 million in revenue in 2012.

Visit the Qumu website.

Velti has Acquired Air2Web

Rainmaker Capital Web — Tue, 04 Oct 2011 20:53:00 +0000

San Francisco, CA. October 4, 2011

Velti (Nasdaq:VELT), a leading mobile marketing and advertising technology provider for brands, advertising agencies, mobile operators and media, today announced it has completed its acquisition of Air2Web, a provider of mobile customer relationship management (mCRM) solutions in the United States and India for many of the world's most trusted consumer brands. The acquisition agreement between Velti and Air2Web was announced on September 22, 2011. "The combination of Velti and Air2Web is an important milestone for Velti," said Alex Moukas, Chief Executive Officer. "It further deepens Velti's U.S. footprint and provides improved access to carriers and verticals such as the financial services industry. In India, Air2Web expands Velti's footprint in the second largest mobile market by subscribers, providing Velti a stronger foundation to continue to service the Indian market."

Visit the Velti website.