IMImobile buys UK-based firm

IMImobile, a Hyderabad-based provider of value-added services for mobile operators and content providers, has acquired UK-based digital content delivery services provider dx3, which pioneered the first legal digital music downloads in Europe, for an undisclosed sum.

The closely-held company had, in August this year, told Business Standard that it was planning to acquire a firm each in the US and Western Europe in the mobile advertising space.

"The European acquisition is expected to be completed in two months, which will add $10 million (about Rs 48 crore) to our topline in the first year. The US buyout will happen next year, once we stabilise our operations in Western Europe,” Vishwanath Alluri, chief executive office and founder of IMImobile told at that time.

The acquisition of dx3 will combine IMI’s experience in the mobile sector, where it already enables 80 operator deployments globally to drive profitable new revenue streams, with dx3’s expertise in the web domain. dx3 has relationships with all of the world’s major music labels, a library of over two million music tracks and provides innovative marketing solutions to major brands and creative agencies including members of WPP and OMD.

The arrangement will bring the combined services of the enlarged group under the IMI brand and see its carrier-grade DaVinci platform used as part of a managed service offering to power the mobile and online digital marketing initiatives of major brands, publishers and retailers across the Europe.

“This is the first strategic acquisition in an aggressive European expansion. We see two key growth areas emerging. Firstly, converged media campaigns that use both mobile and online platforms. Secondly, ‘off deck’, direct to consumer mobile and fixed line operator promotions, working with big name brands to offer innovative offers and marketing inducements to their subscriber base. We are well positioned to exploit this growth with our innovative technology platforms and considerable experience in driving new revenue streams for our global customers,” Vishwanath stated in a press release on Thursday.