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Wednesday, 29 October 2014

UK's New Call Telecom buys 70% stake in chat app Nimbuzz for around $175M

UK-based privately held communication services provider New Call Telecom has acquired a 70 percent stake in the business for $175 million, valuing the full company at $250 million according to reports.

The UK-based provider of low-cost fixed line and broadband services has taken Nimbuzz was a breakeven business, and expects to be profitable in Q4 with voice services, mobile ads and stickers driving revenues.

The move is part of a bigger strategy at New Call to invest in India, with Nimbuzz keeping its focus mainly on that country. We understand that the full staff of Nimbuzz, including CEO Vikas Saxena, will be coming over as part of the deal.

New Call says that it will make Nimbuzz the latest brand in its portfolio, covering entertainment, “basic connectivity” and WiFi while on the move. Other brands include the recently-launched Fuel broadband service in the UK, a mid-tier provider.

Nimbuzz was founded way back in 2006 in the Netherlands, but it found a lot of traction in the India, South East Asian and Middle East/North Africa markets. These form a significant part of its user base today — the vast majority of them, in fact, considering that in 2013 it already counted 150 million users in those regions.

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