Bytemobile to Take ProQuent?
ProQuent last year changed its sales game plan in an effort to drive revenues, moving from a direct sales approach to a channel strategy. The company has previously talked up an unannounced win at a U.K. carrier as proof of such success (see ProQuent Ain't Spent).
The mystery U.K. win was the result of a partnership between ProQuent and Bytemobile, according to ProQuent CTO Tom Hamilton. “Bytemobile is reselling our equipment,” says Hamilton.
Scuttlebutt in Cannes suggests Bytemobile is set to acquire ProQuent following the successful partnership. A number of sources have confirmed that talks are in progress.
Both parties remain tight-lipped. “I can’t confirm or deny it,” says Hamilton. Bytemobile declined to comment.
Bytemobile certainly has the resources for such a deal. The company has raised a total of $57 million in VC funding since its inception in July 2000, with a recent round of $12 million intended for potential acquisition activity. “If we see an inorganic opportunity to grow we have the bank to do it,” says Steve Livingston, executive VP of worldwide sales and marketing.
— Justin Springham, Senior Editor, Europe, Unstrung