New York, New York (PRWEB) September 19, 2011
Mobile Embrace (ASX: MBE), an integrated mobile and digital communications company, executed a loan agreement with Auster Capital Partners (“ACP”), a US based Private Equity Firm. Proceeds from the loan facility were used to refinance the company’s current debt facility and for working capital purposes.
News of the deal comes on the heels of Mobile Embrace’s announcement that it would begin to transition its core business from mobile retail to integrated mobile and digital communications. The Company plans to slowly phase out its legacy business and focus on new services which include mobile web publishing, mCommerce, and mobile advertising and marketing.
“The ACP loan facility allows us to efficiently shift our focus on new initiatives to capture market trends,” stated Mobile Embrace CEO Chris Thorpe. He added, “Auster Capital has been very supportive of our new strategy. They continue to support us, not only financially, but also in our efforts to establish a market leading technology throughout Asia-Pac.”
“After long discussions with Chris and the completion of an assiduous vetting process by our team in New York, I am extremely confident in the long term growth prospects of Mobile Embrace,” said Chuck Auster, Managing Partners of ACP. “Chris and his team have proven their foresight in the recent decision to realign the company’s philosophy with technological and social trends. The transition of its core business was a bold decision, but, in the long run, will prove to be very prudent.”
Mobile Embrace Limited (MBE, formerly MobileActive Limited) is an integrated mobile and digital communications company. The business is focused on growth through its business-to-business (B2B) interactive services and technology market positioning. Mobile Embrace integrates mobile into clients’ business with mobile messaging, publishing, and advertising platforms and services.
AUSTER CAPITAL PARTNERS
Auster Capital Partners (“ACP”) is a private equity and investment advisory firm, with an expertise in the telecommunications, managed services, cloud computing and information technology sectors. ACP seeks to invest in private companies with a strong value proposition and a proven management team. Its advisory business provides transactional expertise offering due diligence, deal structuring and a variety of services which includes outsourced deal management, financial restructuring and capital raising. Auster Capital Partners was founded in 2008 and is headquartered in Jersey City, New Jersey with offices in London, England and an affiliate office in Santiago, Chile.