UK company, New Call Telecom, the fast growing international telecom company with a growing presence in India has announced an agreement to acquire the leading global mobile technology brand Nimbuzz. The acquisition marks one of the first pure mobile Internet based successes out of India and signals the emergence of Internet technology based global consumer brands coming out of the country.
Dutch-based Nimbuzz has a significant niche and loyal subscriber base in Asia, particularly in India and the Middle East currently similar to Whatsapp and LINE. With this deal, Nimbuzz has entered a new era of accelerated and differentiated growth as part of the ‘my digital life’ platform being assembled by New Call.
Nimbuzz has rapidly growing revenues that have doubled every year for the last three years and has a current run rate revenue of $15 Million per annum. It offers a range of award winning mobile messaging, voice over IP (VoIP) and mobile advertising services and operates one of the largest mobile advertising platforms in South Asia and the MENA region. The company today has over 200 million users in 210 countries. It processes over one billion VoIP call minutes and 100+ billion messages per month. Nimbuzz was awarded by Mobile Marketing Association's (MMA) The Smarties 2014 as the ‘Enabling Technology Company of the Year on Mobile'.
Penningtons Manches’ corporate partner David Kendall and his team advised New Call Telecom on the deal working alongside Dutch law firm Kiveld International and Indian law firm Luthra and Luthra. Nigel Eastwood, New Call Telecom CEO, said: “The Penningtons Manches team has supported us throughout this complex international deal providing practical and commercial legal advice at all stages.”