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Mobixell Networks Broadens its Solutions in the Mobile TV and Advertising Domain; Announces New Investment Round
Funding from Apax, Intel Capital and smac partners to fuel growth in mobile multimedia, mobile TV and advertising
Cupertino, CA, 2008 – Mobixell Networks, a leading provider of innovative mobile multimedia and advertising solutions, today announced that it has received a total of US $6 million in funding from existing investors Apax, Intel Capital and smac partners. This investment round offers Mobixell additional resources to expand the development and marketing of its mobile multimedia, mobile TV and advertising solutions.
“This investment round will allow us to broaden our range of multimedia solutions for mobile operators and content providers,” said Amir Aharoni, CEO and founder of Mobixell. “We see steady growth in our multimedia messaging business and are highly optimistic about the potential growth of our mobile TV and mobile advertising solutions in the year ahead.“
The funds will help Mobixell address the many opportunities emerging in the burgeoning messaging, video and advertising market. As Mobixell partners directly with operators on large-scale projects, the new funding will enhance customer support and professional services to support these initiatives, as well as further sales and marketing activities.
“Multimedia and advertising in the mobile market are evolving and hold significant potential for innovation and growth,” said Arun Chetty, director, Intel Capital. “We see a unique opportunity for Mobixell Networks to not only continue growing its core business in media adaptation, but also expand into multimedia and advertising in the mobile market.”
Estimates from industry analyst Juniper Research, released in April 2008, say that total annual ad spend on the mobile will exceed $1 billion for the first time in 2008, reaching $1.3 billion by the end of 2008 and rising to nearly $7.6 billion by 2013. The same research also reveals growth for mobile TV from $3.8 billion in 2008 to $16 billion by 2011.