MOKO.mobi Limited (MKB) announced that it has reached agreement to acquire the United States based mobile community business from mobile publishing company, Cellfish Media LLC. Under the terms of the agreement, Cellfish will receive 27.5 million ordinary MKB shares at 20c per share, valuing the transaction at $5.5 million. Upon completion of the transaction, Cellfish will hold an approximate 17% interest in MKB, and will join the register as MKB’s largest shareholder. Cellfish has been working with MOKO since mid 2010 and is assisting the Company to establish a range of mobile marketing initiatives in the US. Headquartered in New York, Cellfish is a leading publisher and distributor of mobile content and applications, with operations in New York, Paris, Dusseldorf and Montreal.
“Cellfish Media is looking forward to becoming a shareholder in MOKO, and believes the Company is well positioned to grow in the booming mobile social networking space,” said Cellfish Media CEO, Mr Fabrice Sergent. MOKO Executive Chairman, Mr Greg McCann added: “We are very pleased to have entered into an agreement to acquire Cellfish’s community business, strengthening our access to the US market. We look forward to continuing to work with Cellfish to maximize the return on investment and grow our revenue base.
Cellfish Media is a leading publisher and distributor of mobile content and applications. Headquartered in New York, and with offices in Paris, Dusseldorf and Montreal, Cellfish Media generated revenues of over $100 million in 2010. Merriman Capital Inc., a wholly owned subsidiary of Merriman Holdings, Inc. is a financial services firm focused on fast-growing companies and their institutional investors. They are committed to growth industry sectors such as CleanTech, Consumer/Internet/Media and Technology. They also offer expertise in emerging markets such as China. The firm provides investment banking, equity research, institutional services and corporate & venture services. MOKO.mobi is a global platform that enables people to Chat & Share Anywhere!
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