|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
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Aug. 29, 2015 11:45 PM EDT Reads: 419
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
Aug. 29, 2015 10:00 PM EDT Reads: 317
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
Aug. 29, 2015 07:30 PM EDT Reads: 374
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Aug. 29, 2015 07:15 PM EDT Reads: 364
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
Aug. 29, 2015 07:15 PM EDT Reads: 377
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
Aug. 29, 2015 07:00 PM EDT Reads: 465
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Aug. 29, 2015 06:00 PM EDT Reads: 377
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Aug. 29, 2015 04:00 PM EDT Reads: 319
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ET...
Aug. 29, 2015 03:45 PM EDT Reads: 102
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Aug. 29, 2015 03:30 PM EDT Reads: 422
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
Aug. 29, 2015 03:15 PM EDT Reads: 198
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
Aug. 29, 2015 01:00 PM EDT Reads: 144
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
Aug. 29, 2015 12:00 PM EDT Reads: 142
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
Aug. 29, 2015 11:45 AM EDT Reads: 151
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Aug. 29, 2015 11:30 AM EDT Reads: 200