By Rob Corder
Middle East wireless service provider sells 33% of itself for $4 million to European giant.
Bashar Dahabra fulfilled the dot.com dream yesterday as one-third of his company, Info2Cell, was bought for $4 million in cash by Acotel.
The Acotel Group describes itself as a leading European wireless application service provider with almost 1.5 million paying subscribers using its platform.
The partial-acquisition will bring significant technical advances to Info2cell’s Middle East WAP, Web and SMS portal while also taking Info2Cell’s content and development capabilities into new world markets.
“Info2Cell impressed us as a company,” said Claudio Carnivale, CEO of Acotel, at Gitex yesterday. “We have huge synergies together, in technology development, market vision and in service delivery,” he added.
For Info2Cell’s subscribers in the Middle East, the deal will mean richer, stronger and more dynamic services, according to Dahabra. “We also have huge new opportunities to create new services that drive innovation in other markets,” he concluded.