Mergers and Acquistions News
Categories: Media & Information Services, Telecoms, Software
June 25th 2010, 15:42PM
The European arm of Indian firm IMImobile has agreed acquisition terms with the British mobile services provider WIN Plc, it has been reported.
WIN, which runs operations and marketing campaigns for mobile networks such as O2 and Vodafone, is to be bought out for £1.41 per share in cash deal valuing the company at £14.85 million.
News agency Reuters reports that this represents a 19 per cent premium on the Thursday (June 24th) closing price of WIN's shares, resulting in a jump of 14.4 per cent in the stock's values this morning (June 25th).
Commenting on the offer, Vishwanath Alluri, chief executive of IMImobile, said: "The offer represents the full strategic value of the acquisition to IMImobile and I believe that the combination will enable WIN to deliver a broader and enhanced proposition to its customers as well as creating opportunities for employees."
WIN has been operating for over 15 years and employs 130 people around the world to manage the firm's clients in over 20 countries.
The company said that its systems manage 40 million text messages and 4 million picture and video messages every month.
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