MobileMail acquires interest in txtNation

Premium mobile communication solutions developer MobileMail announced it entered into a letter of intent to acquire up to a 49 percent interest in mobile messaging and billing solutions provider txtNation Limited. Financial terms were not disclosed. According to MobileMail, the txtNation acquisition brings with it significant back-end architecture, ensuring direct ownership of mobile payments and billing as well as immediate delivery of multimedia content.

The txtNation deal follows MobileMail's February 2007 acquisition of mobile game publisher Tracebit. MobileMail said it will aggressively pursue further acquisitions and partnerships throughout the year, increasing revenues by launching a multimedia interactive online and mobile sales portal, a mobile "YouTube"-type portal and a mobile social networking community.

"With more and more forms of mobile entertainment in today's market, there is an increased demand to provide the complete mobile service in one simple offering. In txtNation, MobileMail has identified the perfect partner to help shape the future of mobile service provision in Europe, Asia and North America," said MobileMail CEO Peter Ahman in a prepared statement. "The ability to offer the one-stop shop for all mobile related services--from the provision of mobile content through to interactive payment solutions, distribution and detailed billing--provides companies and brand owners a clear and simple opportunity to generate additional revenue streams using the mobile phone as a payment medium."

For more on the MobileMail/txtNation agreement:
- read this release