UK Telecom Company Acquires Nimbuzz For $250 million
Advertisement

Advertisement
Nimbuzz, which is headed by IIT Delhi graduate
Company officials have confirmed the deal but refused to comment on the amount transacted. Nimbuzz claims to have a rapidly expanding user base with subscribers in more than 200 countries and a strong mobile advertising business.
Saxena, who has earlier been associated with companies like Bharti Airtel and Aircel, said that the deal will help Nimbuzz expand, especially in new areas of technology. As per media reports, New Call Telecom will own about 70% stake in Nimbuzz, which currently has a revenue projection of about $15 million per annum.
"We see huge potential in India's nascent internet, broadband, instant messaging and data sharing markets. We hope to generate and expand a number of new and traditional revenue streams as e-commerce picks pace and broadband expands," New Call Telecom Chairman Jerome Booth said.
Advertisement
Advertisement
Towards a Greener Footprint: Prioritising Carbon-Neutrality Makes Good Businesses Sense! Are Indian Firms Making the Transition?
Netflix confirms an ad supported tier is coming to its streaming service by year end
Accenture, Cognizant could see revenue growth but a strong US dollar could spoil the party
Kharif sowing is off to a weak start with extended dry spells and floods
Best ladder for home use in India