InternetQ makes Asian acquisition

AIM-listed InternetQ, which provides mobile marketing and digital entertainment services, has acquired Singapore-based i-POP Networks PTE.

The £2.16 million deal brings to InternetQ a business which supplies connectivity, mobile marketing and media services to clients in the mobile network market.

The purchase is part of InternetQ’s strategy to expand its geographical footprint into new high growth mobile markets, including the Asia Pacific region.

Chief executive of InternetQ, Konstantinos Korletis, says the deal doubles its addressable markets.

He adds: ‘Expanding our geographical reach within growing emerging economies has always been a key component of our growth strategy and the acquisition of i-POP will accelerate that goal.

‘We expect the benefits of this transaction immediately and look forward to developing a number of exciting cross selling opportunities which in the longer-term, we expect to underpin the continued growth of InternetQ.’

I-POP is currently connected with 69 mobile network operators in Southeast Asia. It reported revenues of £2 million for the year ended 31 December 2010.

According to a statement released by InternetQ, the acquisition brings it closer to ‘key markets’ such as India and China, which InternetQ expects to lead mobile marketing and advertising initiatives in the next few years.

The deal is the first acquisition of a public company says founder and president of InternetQ, Panagiotis Dimitropoulos, and will allow the company to leverage ten years of innovation and investment to build its Southeast Asia offering.

Chief executive of i-POP, Mark Brimblecombe, comments: ‘We believe that our clients will benefit from the support of a stronger organisation, with much greater mobile marketing capabilities and an extended geographical coverage.’

Todd Cardy

Todd Cardy

Todd was Editor of between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital. Connect with...

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