(19 May 2009 10:00 pm)

MUMBAI: Geodesic Limited has acquired Interactive Networks Inc, a South America-based software provider of instant messaging and value-added solutions.

With this, Interactive Networks will become a wholly owned subsidiary of Geodesic. "The payout towards acquisition and investments into the company is in the region of $12-15 million," says a source in the company.

The acquisition will help Geodesic expand its global footprint to South America and Africa. The company already has a presence in Europe, Asia and the US.

"The acquisition reflects Geodesic's commitment to providing the most innovative web and mobile value-added services that help our customers to boost revenues and ARPU," says Geodesic senior vice president and general manager for its wireless business Arvind Venkateswaran.

Geodesic has also acquired the development team of Interactive Network. "This will help us to further serve our expanding global customer base," adds Venkateswaran.

The combined offering of Geodesic's award-winning MUNDU IM suite with Interactive Networks' advanced IM solutions will help the company to expand beyond the retail and consumer markets in order to make further inroads into the mobile carrier and enterprises markets.

Says Interactive Networks CEO Pablo Salomon, "We found Geodesic to be an ideal company to join forces with. We share a similar vision of providing the most cutting-edge mobile services that support the rapidly growing market demand for mobile IM and mobile-based social networking services."