AVANTI CAPITAL PLC 31 July 2014
Avanti Capital plc
Investee company update
Avanti Capital plc ("Avanti"), the AIM-quoted investment management company, announces some news regarding expansion by its investee company, mBlox Inc. ("mBlox"). mBlox recently announced a $43.5m debt fund raising to fund the continued growth of its global business. These funds have primarily been utilised in making two strategic acquisitions. Avanti has participated in the fund raising by today subscribing $367,440 (approximately £217,000) by way of a secured interest bearing debt note which also a carries success fee associated with long-term performance of mBlox.
mBlox is the largest independent application-to-person ("A2P") SMS provider in the world with more than 100 direct commercial carrier and operator connections. The breadth of mBlox's connections gives the company the highest quality and largest reach in what has become an increasingly fragmented industry.
The acquisitions of CardBoardFish, a UK-based A2P messaging business, and Zoove, a US-based supplier of StarStar number services, will expand mBlox's solutions and enhance the way it assists brands in communicating with their customers on mobile phones. The move supports mBlox's vision to have a greater share of communications that converge on the mobile device, including messaging, voice, email, push and web.
Tom Cotney, mBlox CEO commented:
"These acquisitions extend our lead in A2P messaging by offering two things our customers have asked for - additional ways to have a relevant dialogue with consumers and an even greater international reach than we have today. Messaging is no longer just about sending and receiving SMS. mBlox is now better prepared to support the mission-critical use of mobile handsets and tablets to serve consumers in a 24x7 world."
Enquiries:
Avanti Capital plc Tel: 020 7299 1459
Richard Kleiner
Panmure Gordon (UK) Limited Tel: 020 7886 2500
Andrew Potts / Atholl Tweedie
This information is provided by RNS
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