Friday, March 12, 2010

MobileOne expanding into West Asia, Latin America

Mobile application development company MobileOne Infocom is looking to tap venture capital funding of $2 million as part of expansions into West Asia and South American markets this year.

“Expanding in these markets is as an immediate priority and into North America and Europe next year,” said MobileOne managing director Ravi Subramanyam. The company plans to raise $2 million by way of equity dilution to fund the expansion, he said.


While Hyderabad-based MobileOne is yet to carry out a formal valuation of the company, its auditor has helped it put together a valuation based on the company’s current Ebit (earnings before income tax) and future growth projections, Subramanyam said.


The company is currently in talks with prospective investors to fund the expansion capex. “We are in discussions with investors. Exit options are either an IPO in 2013 or being acquired by a larger company in a related domain,” Subramanyam said.


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