The deal, currently valued at US$ 1.2 Million will see virtual acquisition of Ariose’s B2C (Business to Consumer OR One-2-Many) mobile relationship management platform. Ariose won’t see the money all together though. It is a multi-stage payout with $0.45 million in cash upfront, $0.45 million in convertible preference Shares (equity) to be paid within five days of finalizing the deal and the remaining amount will be paid over a three-year earn-out period. Guess, Ariose has to continue shining to earn the remaining amount. Though, Ariose co-founders Amit Goenka (CEO) and Sudhi Agarwal (CTO) will remain as MD and CTO of the company, both have entered into service agreements with MobileWave.
Arisoe is a formidable acquisition in the current scope of expansion that London’s AIM-listed MobileWave is eyeing says, Rory Stear, executive chairman of MobileWave Group PLC, “Ariose has a strong track record of developing effective and relevant mobile solutions, including India’s largest e-commerce portal and the largest and most comprehensive online legal and business policy database, as well as being the first company to develop mobile payment across various platforms. This partnership provides a significant growth opportunity for MobileWave”
Founded in 2006, Ariose has about 120 mobile applications to its credit & has catered to large clients (currently 100 odd) like One97, Hungama, Nazara, Snapdeal etc. Some star products in Ariose’s cap are Cortex (content delivery platform), TrackOnMap (vehicle and resource tracking solution) & Mpower (query and update corporate information on mobile phones)
What is the immediate benefit?
MobileWave owns & operates a social networking website for mobile devices. The website is a cleverly disguised advertising portal which caters to consumer brands, loyalty club operators, subscription-based businesses and other organizations to closely relate to customers and target audiences.
MobileWave, which was ironically subjected to a reverse buyout by Fieldbury rose like a phoenix & is a good home for Ariose feels Amit Goenka, co-founder and chief executive officer of Ariose Software, “MobileWave is enabling us to expand our horizons and our footprint.”