06/05/2005 Ki-Bi Mobile Technologies opens the London Market
6 May 2005
Ki-Bi Mobile Technologies opens the London Markets
Ki-Bi provides a solution for the physical distribution of mobile content based on a combination of proprietary consumer electronics devices and central management server systems. Content, such as ringtones, music, video and games for mobile handsets, is currently distributed mainly by over-the-air downloads into handsets, but there are technological, logistic and marketing barriers to traditional physical distribution of such content via retail outlets. Ki-Bi’s business model is based upon the sale of electronic content cards and sharing of the revenues from the content distributed through the cards. Ki-Bi was founded in 2002, has offices in Israel and London and has been a portfolio company of Siemens Acceleration since September 2003.
The directors of Ki-Bi believe that joining AIM will increase the company’s credibility amongst its customers and partners and provide the company with an appropriate platform from which to accelerate the adoption of its products, and also that the proceeds will give Ki-Bi the financial strength and flexibility to grow effectively within its markets, both organically and through selective acquisitions.
Ehud Levy, CEO, said “We are delighted about the response from institutional shareholders, and believe it will enhance our profile with both current and future customers giving us resources to materially increase our sales and marketing effort to take full advantage of the forecast growth in this sector.”