The all-cash acquisition will see Golden Bytes, a mobile technology, marketing and services company, adopt the Mobile Interactive brand, and the enlarged group will offer a bigger range of services and technology for mobile-related communications products. Financial details of the deal have not been disclosed.
According to a statement from London-based Mobile Interactive, the group’s sales and marketing and technical and operational support divisions will be merged to ‘allow the business to further expand into other European markets’, after recently launching in the US and Australia.
The purchase follows Mobile Interactive’s acquisition of mobile marketing and CRM provider Piri in June last year.
Mobile Interactive chief executive and founder Barry Houlihan comments that the group ‘specially targeted’ Golden Bytes, led by chief executive Jonathan Kenny, as part of a drive to generate sales of £100 million this year.
Houlihan adds, ‘We have a huge amount of respect for their work delivered to date, and although in its infancy the teams have integrated well and the agreement has already opened up some really exciting conversations with new and existing clients. We look forward to working as one over the coming years and increasing our activities in Europe.’
In its financial results for 2010, the company posted a 46 per cent gross profit margin increase, 30 per cent staff growth and an increase in revenue of 15 per cent.