GPS navigation services provider TeleNav has completed the acquisition of goby, a US-based local search engine and mobile application developer.
Round-up of today’s M&A deals
GPS navigation services provider TeleNav has completed the acquisition of goby, a US-based local search engine and mobile application developer.
goby provides services that allows users to explore events and activities based on location. Currently, goby only covers the US but is looking to expand into the European market, according to a statement.
Telenav has offices in the US, United Kingdom, Brazil and China.
‘We are impressed with what the goby team has built to date and are excited about what we can do together moving forward,’ says HP Jin, president, chief executive officer and co-founder of TeleNav.
Most of the 11 goby employees will join the TeleNav team and will remain in their current Boston location. It has been stated that additional details on timing and extent of goby content and technology integration will be announced at a later date.
goby was launched in 2009. In October 2010 the business closed a $2.5 million extension of its Series A funding from investors including Flybridge Capital Partners and Kepha Partners. With this extension of funding, goby took its total raised amount to $7.5 million.
Round up of todays M&A Deals
- EDB ErgoGroup ASA has decided to exercise its call option to acquire 49.9 per cent of the share capital of the Indian company Span Systems. After the transaction EDB ErgoGroup control 100 per cent of Span Systems
Value: undisclosed
Advisers: undisclosed
- Leoni has agreed to buy the remaining 50 per cent of the South Korean wiring systems manufacturer Daekyeung that it did not already own
Value: undisclosed
Advisers: undisclosed
Read more
- Lyntech Systems purchases Aspire
Value: undisclosed
Advisers: undisclosed
- Broadband communications company Charter Communications acquires broadband systems from US Cable Telecoms
Value: undisclosed
Advisers: undisclosed
Read more
- Addtech Industrial Solutions is to acquire Fr Ramström Transmission AB. Ramström Transmission is a technology trading company active in the transmission component area
Value: undisclosed
Advisers: undisclosed
