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United Kingdom : NEW CALL TELECOM takes over NIMBUZZ for $250 MILLION [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) New Call Telecom announced the purchased of Nimbuzz for about $250 million. Nimbuzz, headed by IIT Delhi grad Vikas Saxena, has over 200 million registered users, with biggest share of 20% coming from India. The deal will help Nimbuzz expand, especially in new technology areas. Sources said New Call Telecom, the sixth-largest internet service provider in the UK, will pick up around 70% stake in Nimbuzz, which currently has a revenue projection of around $15 million annually, said Saxena. Following the completion of the deal, Saxena will continue to hold some of his equity in Nimbuzz and will remain as CSO. New Call chairman Jerome Booth said, We see huge potential in India's nascent internet, broadband, instant messaging and data sharing markets. We hope to generate and expand a number of new and traditional revenue streams as e-commerce picks pace and broadband expands. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |