MOBIDATA ANNOUNCEMENT REVIEW:
3 KEY DEVELOPMENTS OVER THE LAST 9 MONTHS.
Mobidata Group Pty Ltd. Signs an Exclusive Agreement to Form Joint Venture Company with Crazy John's
08/28/2007
The Board of Mobi Ltd. has reported that it's wholly owned subsidiary MobiData Group Pty Ltd. has signed an exclusive agreement to form a joint venture company with Crazy John's (Mobileworld Operating Pty Ltd.) to supply mobile applications and solutions. Under the terms of the agreement, MobiData will control 30% of the new venture (70% to Crazy John's). MobiData will have an exclusive 3 year deal with NewCo to supply mobile applications and content, as well as its Mobile Services Hub management platform to the venture. Upon expiry of the three year agreement, Crazy John's will have the option to extend this exclusivity for a further three years, and the rights to acquire the assets of MobiData subject to shareholder and regulatory approval. Exclusivity will apply only to Europe, Australia and New Zealand. Crazy John's will be responsible for all sales and marketing, with MobiData providing all technology integration, customisation and new product development, as well as its existing product portfolio. MobiData will retain all its intellectual property and will have the exclusive rights to sell any and all new products to other markets internationally.
MobiData Group Expands in India
07/12/2007
Mobi subsidiary MobiData Group Pty Ltd. has completed the customised development of its products and systems for commercial deployment in India. MobiData's partner Radical SoftNet will commence marketing and sales shortly through a national retail network covering all of India. It is anticipated that revenues will quickly reach in excess of $100,000 per month. This is in line with previous forecasts.
Mobidata Group Launches Mobiav Mobile Applications in India
03/21/2007
MobiData Group Pty Ltd. announced that it has completed the soft launch of mobile products with its joint venture partner Radical Softnet in New Delhi and Mumbai - India’s two largest metropolitan areas. National distribution will follow later this year. The revenues from the product launch are conservatively estimated to be over $100,000 a month starting from June this year.
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