Mobile application development agency Mobui has handed over an equity stake in the company to Teletouch Communications. Though the financial terms of the agreement haven’t been disclosed, Mobui CEO John Burry says, “investment from Teletouch provides us with additional operational flexibility to remain 100% focused on meeting and exceeding our customers’ expectations of speed and quality.” Granted that could mean any numbers of things, but hey.
Mobui says the funds will be used to expand software development and customer operations functions. Teletouch will have access to Mobui’s huge library of mobile applications including builds for the iPhone, Blackberry, and Android as well as Mobui’s hosting capabilities. Teletouch president and chief operating officer, T. A. “Kip” Hyde, Jr., will join Mobui’s Board of Directors effective immediately.
Not only does Mobui have its fair share of application development experience, it has some high-powered clients to boot. Among them are Viacom and Tivo. The company also hosts applications for VH1, The Wall Street Journal, MSNBC.com, Sports Illustrated, Barrons.com, Golf.com, and MarketWatch. The latter clients come from Mobui’s acquisition of Action Engine, a mobile application platform company, in October 2008. At that time the company also raised an undisclosed sum from Latin American wireless applications service provider GlobalNET Mobile Solutions.
Global economic crunch or not, there will be no let-up in the mobile sector this year.
