London-based IMImobile Limited has acquired the mobile communications company TextLocal for ?13.15 million in a cash and equity deal. The deal comprises of ?10 million in cash and ?1 million by way of IMImobile?s shares, with a deferred consideration of up to ?2.15 million. According to the company, the acquisition will supplement IMIMobile’s earnings with effect from the second half of the 2014-15.
As per the acquisition, the mobile messaging platform of TextLocal will be integrated with IMImobile?s core infrastructure. The customer base of TextLocal will provide access to a substantial client base comprising small and medium sized businesses to IMImobile and provide them with an opportunity to cross-sell their offerings to these businesses.
IMImobile enables clients to engage and transact with their customers efficiently through smarter mobile engagement using mobile as a channel to create new revenue streams, as a CRM and customer engagement channel and to improve business efficiency.
