|By PR Newswire||
|November 19, 2012 05:01 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
SOURCE Mobile Fun and Altium Capital
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, provideed economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session also included a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
Dec. 7, 2016 09:15 PM EST Reads: 305
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
Dec. 7, 2016 08:45 PM EST Reads: 1,625
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Dec. 7, 2016 08:15 PM EST Reads: 2,204
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Dec. 7, 2016 07:15 PM EST Reads: 1,782
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
Dec. 7, 2016 07:15 PM EST Reads: 358
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Dec. 7, 2016 07:00 PM EST Reads: 463
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
Dec. 7, 2016 06:00 PM EST Reads: 2,659
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
Dec. 7, 2016 06:00 PM EST Reads: 1,870
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 7, 2016 05:45 PM EST Reads: 1,099
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Dec. 7, 2016 05:15 PM EST Reads: 1,750
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
Dec. 7, 2016 05:15 PM EST Reads: 926
"We are a custom software development, engineering firm. We specialize in cloud applications from helping customers that have on-premise applications migrating to the cloud, to helping customers design brand new apps in the cloud. And we specialize in mobile apps," explained Peter Di Stefano, Vice President of Marketing at Impiger Technologies, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 7, 2016 05:15 PM EST Reads: 333
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
Dec. 7, 2016 05:15 PM EST Reads: 262
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Dec. 7, 2016 05:00 PM EST Reads: 1,920
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
Dec. 7, 2016 04:30 PM EST Reads: 1,676