Sybase Buys Mobile 365

Sybase is to aquire Mobile 365 in an all cash transaction.

The transaction is expected to close in the fourth quarter of 2006 with a purchase price US$425 million. For its fiscal year ended March 31, 2006, Mobile 365 generated approximately $90 million in revenue.

Headquartered in Chantilly, Virginia, Mobile 365 is privately held and backed by leading venture capital firms including Draper Fisher Jurvetson, Draper Atlantic Venture, 3i Technology Partners, Institutional Venture Partners, and Mayfield.

Mobile 365 claims to deliver 3.5 billion messages per month and have reach to nearly 700 mobile operators around the world.

Founded in 1984 and headquartered in California, Sybase is one of the largest independent software vendors in the world with revenues of US$818.7 million in 2005.

“The mobile messaging market in the U.S. alone is expected to grow to $7.5 billion by 2008″ said John Chen, Sybase chairman, CEO and president. “Getting closer to this exploding mobile market through carriers is a key extension of our Unwired Enterprise strategy. Mobile 365 brings unparalleled breadth and depth of carrier relationships and the largest mobile messaging and content delivery platform, solidly positioning Sybase between carriers, global brands and mobile content.”

Following the closing of the transaction, Mobile 365 will operate as Sybase Mobile 365, a wholly-owned subsidiary. The new subsidiary will be led by Marty Beard, Sybase’s senior vice president of corporate development and marketing, who will be named president of Sybase Mobile 365.

Tags: Premium Services, SMS, Sybase

This entry was posted on September 09th, 2006 and is filed under Brands. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or Trackback from your own site.