Globo, the Athens-headquartered, AIM listed international company delivering enterprise mobility management and telecom software products and solutions, has acquired the business and assets of Notify Technologies Inc, a mobile technology company specialising in wireless mobility solutions and services, for a cash consideration of US$5m.
Assets of US$350,000 and liabilities of US$3.1m including US$2m of deferred revenues, as well as around 60 employees, will transfer to Globo’s US subsidiary. Notify enables organisations to define, simplify and implement their mobility strategies, including the management of mobile devices. In 2012, Notify’s sales were US$6.1m and Ebitda US$1.6m.
Globo’s ‘container’ approach has proven popular with many organisations; however, the company has acknowledged that some potential customers require mobile device management (MDM), such as governments or financial service companies where employees are more likely to be able to choose their own device which is purchased and owned by the employer. Enterprise-owned devices demand control of the entire device (personal and enterprise), and this requires an MDM approach – something that until this acquisition was not possible for Globo to offer.
Andrew Dunn, analyst at RBC Capital Markets says: “We believe that the integration of Notify will enable Globo to offer the industry’s most comprehensive bring your own device (BYOD) offering encompassing MDM, container, cross mobile platform as well as the ability to build, distribute and manage apps.”