Pretty forward looking announcement from the company, just signed a JV deal with Crazy Johns.
MOBI LTD SIGNS EXCLUSIVE AGREEMENT WITH CRAZY JOHN’S
• MOBI LTD SIGNS EXCLUSIVE AGREEMENT WITH CRAZY JOHN’S
• JOINT VENTURE TO BE CREATED TO SELL MOBIDATA MOBILE
PRODUCTS IN AUSTRALIA, NZ AND EUROPE
• STRONG REVENUE AND PROFIT MODEL
The Board of Mobi Ltd is pleased to announce that it’s wholly owned subsidiary
MobiData Group has signed an exclusive agreement to form a joint venture company
with Crazy John’s to supply mobile applications and solutions (“NewCo”).
John Ilhan, CEO and Founder of Crazy John’s said “We are very pleased to be
partnering in this exciting project with Mobi. We believe the MobiData applications are
industry leading. But just as important as the applications is the MobiData platform to
deliver, manage and charge these applications. This platform which MobiData has
developed is world class and will enable Crazy John’s to deliver great value mobile
phone applications quickly and efficiently to our customers.”
Under the terms of the agreement, MobiData will control 30% of the new venture (70%
to Crazy John’s). MobiData will have an exclusive 3 year deal with NewCo to supply
mobile applications and content, as well as its Mobile Services Hub management
platform to the venture.
Upon expiry of the three year agreement, Crazy John’s will have the option to extend
this exclusivity for a further three years, and the rights to acquire the assets of
MobiData subject to shareholder and regulatory approval. Exclusivity will apply only to
Europe, Australia and New Zealand.
Crazy John’s will be responsible for all sales and marketing, with MobiData providing
all technology integration, customisation and new product development, as well as its
existing product portfolio. MobiData will retain all its intellectual property and will have
the exclusive rights to sell any and all new products to other markets internationally.
Mobi Limited ABN 98 009 805 298
114-118 Miller Street, West Melbourne VIC 3003
t: 03 9320 6035 f: (03) 9320 6001
The Board of Mobi Ltd are excited about forming this new joint venture with Australia’s
leading independent mobile retailer. Both partners have a number of new and
innovative ideas for developing the “hot” mobile data space in the Australasian and
European market place which they believe will deliver substantial cash flows and
Fabio Pannuti, Executive Chairman of Mobi Ltd said “This joint venture with an
industry leader such as Mr Ilhan and his business is highly significant. We are not
only delighted but also honoured to have been afforded the opportunity to partner with
Crazy John’s, a proven player in the telco space.”