When we announced a $6 million financing with Wmode last Fall, a portion of those funds were earmarked for acquisitions.
Just yesterday, Wmode announced the acquisition of ProvisionX, a third party mobile games delivery business for mobile operators. Formerly owned by Glu Mobile, a leading global publisher of mobile games. ProvisionX allows mobile operators to offer subscribers mobile games with the best purchase experience possible and serves carriers and media companies in Asia, South America and Europe.
With the addition of ProvisionX, Wmode will now operate its comprehensive mobile distribution services for customers in over 20 countries. Games publishers and developers will benefit from Wmode’s global distribution network, allowing them to enter new markets quickly and cost effectively.
Wmode now serves over 40 carriers and media companies and works with hundreds of leading content providers.
Accessing the capital to negotiate an overseas deal was part of the reason Wmode came to us in the first place. And with this deal now closed, Wmode is now one of the most recognized international mobile content distribution services in the industry.
I highly recommend this structure to any firm that has its sights on a specific acquisition. The negotiating power that comes from having a fully-financed deal, particularly when two private companies are involved, is unbeatable.