|By PR Newswire||
|November 19, 2012 05:04 AM EST||
BIRMINGHAM, England, November 19, 2012 /PRNewswire/ --
Online retailer seeking new shareholders to boost growth plans
Mobile Fun, the leading online retailer for mobile device accessories has appointed corporate finance firm Altium Capital to advise on a possible trade sale.
Founded in 2000, the independently-owned and award-winning online retailer is seeking a buyer to support the Company in achieving its international expansion ambitions.
In the financial year ending 31st March 2012, Mobile Fun's total revenue exceeded £10 million. For year ending 31st March 2013, the Company is on course to launch 20 new countries and hit sales of £12+ million with a predicted EBITDA of £1.2 million.
Managing Director Mohammed Hussain aims to build the business to achieve £25 million annual retail sales by 2017, with accelerated international expansion a central part of his strategy.
Mohammed Hussain commented: "We typically receive several approaches a year from both private equity and trade buyers in the UK and from overseas. We feel that the timing is now right to find new shareholders for our growing and profitable online business. Our sophisticated online retail platform, combined with expertise in international e-commerce and mobile device accessories is unrivalled. Our website traffic is a testament to our success - with a record 3.1 million visits in September 2012. With the right investment, we will further strengthen our market position and be ready to grow exponentially in the expanding smart devices market.
Mohammed continued: "During this process, it's business as usual at Mobile Fun as our team is working on a record Christmas quarter. We're already experiencing increased sales, following the release of the iPhone 5 and iPad Mini, as well as a number of other hero tablets and smart phones."
Andy Clarke, from Altium Capital in Manchester, said: "Mobile Fun is a high growth potential company operating in a very attractive market which has proved remarkably resilient to the current economic conditions. As Mobile Fun presents a unique opportunity, we anticipate initial discussions with potential new shareholders taking place before Christmas. If a suitable party emerges, an agreement could be in place by early 2013."
Mobile Fun operates in an expanding sector, with analysts including ABI Research predicting that by 2017, smartphone accessories will grow to $38 billion in revenues, while feature phone accessory revenues decline to $12 billion. As the UK's leading online retailer of accessories for mobiles, smart phones, tablets and other mobile devices, Mobile Fun offers over 6,500 products and ships to 50+ countries.
The retailer has a firm foothold in the UK through MobileFun.co.uk and complementary brands including GearZap.com, GamingZap.com and LoveCases.co.uk.
Mobile Fun's strategy of launching dedicated localised websites with native language speaking customer service is paying dividends, with international sales jumping by 161% in the last financial year. Mobile Fun now has international presence in Australia, Austria, Belgium, Canada, France, Germany, Hong Kong Ireland, India, Italy, the Netherlands, Spain, and the USA. The retailer also operates offices in France, Germany, Spain and the USA.
About Mobile Fun
Mobile Fun is the UK's leading Internet retailer offering a market leading range of accessories for mobile phones, tablets and other mobile devices from its growing portfolio of international websites.
With a product range of over 6,500 globally-sourced mobile accessories available on its websites, Mobile Fun has successfully established a market-leading position within the competitive mobile, smartphone and tablet sectors.
Mobile Fun was ranked as the UK's 7th 'Fastest Growing Technology Based Company' in the Sunday Times 2006 Microsoft Tech Track 100, was awarded the 'Online Retailer of the Year' title at the Mobile News Awards 2011 then again in 2012; won Best Online Business (Consumer) at the ECMOD Awards 2012, the Online Retail Awards 2011 and 2012 'Computers and Telecommunications' category and What Mobile's Best Accessory Retailer 2012.
About Altium Capital
Altium is an international investment banking and corporate finance advisory firm offering the full range of services for public and private companies, private equity firms and entrepreneurs, including mergers & acquisitions, private placement of debt and equity capital, management buy-outs, structured financing and financial restructuring. Altium employs over 120 corporate finance professionals in ten offices across eight countries.
For other information, contact: Andy Clarke at Altium Capital on +44(0)845-505-4343 or http://www.altiumcapital.com
In a world of ever-accelerating business cycles and fast-changing client expectations, the cloud increasingly serves as a growth engine and a path to new business models. Dynamic clouds enable businesses to continuously reinvent themselves, adapting their business processes, their service and software delivery and their operations to achieve speed-to-market and quick response to customer feedback. As the cloud evolves, the industry has multiple competing cloud technologies, offering on-premises ...
May. 28, 2015 06:00 PM EDT Reads: 3,985
SYS-CON Events announced today that SUSE, a pioneer in open source software, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SUSE provides reliable, interoperable Linux, cloud infrastructure and storage solutions that give enterprises greater control and flexibility. More than 20 years of engineering excellence, exceptional service and an unrivaled partner ecosystem power the products and support that help ...
May. 28, 2015 05:01 PM EDT Reads: 369
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
May. 28, 2015 05:00 PM EDT Reads: 1,647
T-Mobile has been transforming the wireless industry with its “Uncarrier” initiatives. Today as T-Mobile’s IT organization works to transform itself in a like manner, technical foundations built over the last couple of years are now key to their drive for more Agile delivery practices. In his session at DevOps Summit, Martin Krienke, Sr Development Manager at T-Mobile, will discuss where they started their Continuous Delivery journey, where they are today, and where they are going in an effort ...
May. 28, 2015 04:45 PM EDT Reads: 1,406
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
May. 28, 2015 04:00 PM EDT Reads: 3,152
There is no question that the cloud is where businesses want to host data. Until recently hypervisor virtualization was the most widely used method in cloud computing. Recently virtual containers have been gaining in popularity, and for good reason. In the debate between virtual machines and containers, the latter have been seen as the new kid on the block – and like other emerging technology have had some initial shortcomings. However, the container space has evolved drastically since coming on...
May. 28, 2015 03:30 PM EDT Reads: 1,319
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
May. 28, 2015 03:00 PM EDT Reads: 4,358
The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential. The DevOps Summit at Cloud Expo – to be held June 3-5, 2015, at the Javits Center in New York City – will expand the DevOps community, enable a wide...
May. 28, 2015 03:00 PM EDT Reads: 1,948
The web app is Agile. The REST API is Agile. The testing and planning are Agile. But alas, Data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes which force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software orga...
May. 28, 2015 02:56 PM EDT Reads: 364
The world is at a tipping point where the technology, the device and global adoption are converging to such a point that we will see an explosion of a world where smartphone devices not only allow us to talk to each other, but allow for communication between everything – serving as a central hub from which we control our world – MediaTek is at the heart of both driving this and allowing the markets to drive this reality forward themselves. The next wave of consumer gadgets is here – smart, con...
May. 28, 2015 02:00 PM EDT Reads: 645
Cloud Expo, Inc. has announced today that Andi Mann returns to DevOps Summit 2015 as Conference Chair. The 4th International DevOps Summit will take place on June 9-11, 2015, at the Javits Center in New York City. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at ...
May. 28, 2015 02:00 PM EDT Reads: 1,673
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
May. 28, 2015 02:00 PM EDT Reads: 4,850
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
May. 28, 2015 01:30 PM EDT Reads: 684
CA Technologies has announced it has signed a definitive agreement to acquire Rally Software Development Corp. for $19.50 per share, which equates to approximately $480 million, net of cash acquired. The transaction has been unanimously approved by both Boards of Directors, and is expected to close in the second quarter of CA’s fiscal 2016. Based in Boulder, CO, Rally has approximately 500 employees across four continents and FY 2015 sales of $88 million. “Software applications are changing the...
May. 28, 2015 01:04 PM EDT Reads: 462
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
May. 28, 2015 01:00 PM EDT Reads: 6,204