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Wireless - Thursday, April 26, 2007

MobileMail Buys 49% of Mobile App White Labeler txtNation

txtnation.png
MobileMail [OTCBB: MBMU] has taken a 49% interest in London's txtNation. Founded in 2002, txtNation says it did 2006 revenues of $3M and pre-tax profits of $750K. It expects revenues for 2007 of $6M and net profit of $2.5M. txtNation sells private label mobile messaging, content and billing services, including SMS chat services and mobile customer billing.

Mobilemail says that it will pay for the 49% stake with GBP 1.25M in cash and $7M in stock.

Read - MobileMail (US) Inc. Enters Into a Letter of Intent to Acquire Significant Interest in Market-Leading Mobile Content Delivery Solutions Provider (Release)

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