TMT Investments announced last week that it has acquired a 10% stake in Unicell, a leading mobile application service and content provider in Israel, for 10.4 million shekels, or approximately $2.96 million. This transaction seems to mark the first investment of a Russian company in a mobile content provider outside the former USSR.
This deal is also the largest one to date for TMT Investments since its foundation by high ranking executives from RBC, a leading Russian online and print media group. In December 2010, TMT Investments raised $20 million and listed its shares on the Alternative Investment Market of the London Stock Exchange. Since then, London-based TMT Investments has backed four internet start-ups. The most recent one was Berryman Capital Group and its subsidiary Creat Studio, an international developer of online games for social networks.
Unicell’s mobile offers range from premium content services and billing to mobile advertising and marketing, and from intelligent mobile searches to solutions for operators, media, and ad agencies. Its audited net assets amount to approximately $5.5 million. TMT and Unicell intend to use their respective knowledge and international distribution expertise to generate synergistic cross-selling opportunities.
Source: ICT-Online
