MobilePlanet Acquired by eXpansys Group for $3.75 Million in Cash Transaction
The U.K. based eXpansys Group today announced that they have acquired MobilePlanet Inc. MobilePlanet will continue operations under its own brand name and as a separate company taking advantage of Expansys' warehousing, logistics and software development facilities. The company plans to maintain all existing customer, supplier and partner relationships and will actively seek new partners of all kinds for the combined business over the coming months.
Chatsworth, CA (PRWEB) April 29, 2005 -- The U.K. based eXpansys Group today announced that they have acquired MobilePlanet Inc., the leading U.S. multi-channel reseller of mobile computing and wireless products. MobilePlanet posted revenues of USD $21 million in 2004.
The Acquisition will help to secure the group's position as the premier specialist online retailer of mobile devices in the world with a forecast turnover of $200 million for the next financial year.
MobilePlanet will continue operations under its own brand name and as a separate company taking advantage of Expansys' warehousing, logistics and software development facilities. The company plans to maintain all existing customer, supplier and partner relationships and will actively seek new partners of all kinds for the combined business over the coming months.
Roger Butterworth, CEO of eXpansys Group said: "We are delighted to be completing this deal to bring together the two largest players in the online market for mobile devices in the USA, we are looking forward to bringing the best of MobilePlanet and eXpansys to all of our customers worldwide."
eXpansys Holdings Ltd., a company based in Manchester, England is the leading worldwide specialist distributor of mobile technology which owns eXpansys and Portable Add-Ons. With operations in the U.K., U.S., Europe and Asia, the companies serve customers in over 140 different countries. By expanding its position in the U.S. market, this acquisition is a major step in the international development of the business.
The U.K. group plans to use the MobilePlanet brand name in the U.S. and other key markets. To accommodate this, the group holding company, eXpansys Holdings Ltd. will be re-named Mobile and Wireless Group Ltd (M&WG). eXpansys and MobilePlanet will continue to trade separately.
Media Contact:
Roger Butterworth
+44 7973 629916
www.mobileplanet.com or www.expansys.com
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