Mobile Devices (France) - Nov 2007

Innovacom has invested €3.1m in the first round of financing for telematics technology developer Mobile Devices, in return for a minority stake in the business. The venture capital firm sourced the deal privately, after meeting the company’s CEO in April 2007. An IPO and a trade sale are considered as possible exit routes.

Company

Founded in 2002 in Le Kremlin Bicêtre, Mobile Devices has created a catalogue of ready-to-use value-added services for telematics solution providers (fleet management and navigations systems). The business, which has more than 200 clients in 35 countries, has seen its revenues double every year since its creation. It intends to expand into consumer products and continue to develop internationally, including in the US and Asia.

People

Jacques Meheut and Emanuel Puga Pereira were in charge of this investment for Innovacom. Aaron Solomon is Mobile Devices’ CEO.

Sourced from: France unquote" 88 (Feb 2008)

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