Critical.
Authoritative.
Strategic.
Subscribe to CIO Magazine »

Mobile ad players Mercury, m.Net announce merger

Emerging mobile opportunities seen as driver

Mobile marketing and content providers Mercury Mobility and m.Net Corporation have agreed to merge in a deal worth some 105,000,000 m.Net shares.

The combined group will continue to target the mobile marketing and content space by selling to mobile carriers, media companies and content and brand owners.

CEO of m.Net Corporation, Horden Wiltshire, will lead the combined company and Mercury Mobility’s managing director, Ben Grootemaat, will become an executive director.

The agreement was signed by the three major shareholders of m.Net (Yahoo!7, Alcatel-Lucent and article words), and is conditional upon m.Net's minority shareholders also agreeing to sell their m.Net shares to Mercury at a general meeting in October.

After the merger, m.Net is expected to have net current assets of at least $700,000 and no financial debt, according to an ASX announcement by the two companies.

Wiltshire said the mobile market is growing quickly and the merger positions m.Net to take advantage of the emerging opportunities in the industry.

“Combined we have an enviable client list and our two workforces now become part of a larger, stronger organisation,” he said.

Grootemaat said the combination of Mercury’s existing business in Canada and m.Net’s work with Yahoo! in North America will provide a foothold to further expand in North America.

Yahoo!7 CEO, Rohan Lund, said audience demand continues to grow for mobile content and services and advertisers are looking for innovative mobile advertising and marketing solutions.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

More about: Alcatel-Lucent, Lucent, Telstra, Yahoo
References show all

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
Users posting comments agree to the CIO comments policy.
Login or register to link comments to your user profile, or you may also post a comment without being logged in.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: mobile marketing, mobile applications, m.Net, Mercury Mobility
Latest Blog Posts
Whitepapers
  • Protecting Generation Web
    From data privacy to personal safety issues, cyber-bullying, inappropriate content and malware, schools are facing an increasingly difficult task when it comes to allowing young people to spread their online wings without compromising their safety and personal development. The reality that most schools are catering to the needs of mixed age groups and abilities, and it’s easy to understand why a simple stop and block approach won’t work. Learning environments are, by nature, flexible. It stands to reason that the IT resources used in them should be flexible too. Read on.
    Learn more »
  • How to Choose an SMB - Unified Communications as a Service (UCAAS) Solution
    The on-premise deployment of Unified Communications (UC) continues to be a source of considerable corporate angst especially for the Small to Medium Business (SMB) sector. IT research firm Gartner believes UCaaS will be adopted as an adjunct service by large enterprises and as a core service by SMBs before 2015. To help SMBs choose the best offering and develop a suitable roadmap Computerworld has prepared this special feature profiling the major offerings in the Australian market.
    Learn more »
  • Business Process Management, Service-Oriented Architecture, and Web 2.0: Business Transformation or Train Wreck?
    As a result of more and more organisations adopting new technologies and business practices surrounding BPM, SOA, and Web 2.0, fundamental changes have arisen in the way IT and business stakeholders work together. Make this into an opportunity - read on.
    Learn more »
All whitepapers
rhs_login_lockGet exclusive access to Invitation only events CIO, reports & analysis.
Recent comments

HP and IDG news, product videos and resources