Intel Capital invests in African mobile firm
VALUE ADDED SERVICESBy BiztechAfrica - July 10, 2012, 11:14 a.m.
Adlevo Capital Managers, a private equity fund manager focused on investments into technology-enabled businesses in sub-Saharan Africa, and Intel Capital, Intel’s global investment and mergers and acquisition organisation, today announced that they have completed an expansion investment into Rancard Solutions Limited (“Rancard”), a leading provider of cloud based software for mobile content discovery and delivery, focused on Africa.
Commenting on the investment, Kofi Dadzie, CEO of Rancard, said: “Today’s investment will play a vital role in enabling us to expand our footprint across Africa on both a reputational and operational level. We’re delighted that both Adlevo Capital and Intel Capital have agreed to come on board at a time of such opportunity and are excited about working with such experienced and globally recognized partners.”
Since launching in 2001, Rancard has established itself as a trusted provider of cloud-based mobile software and services which Africa’s mobile operators are increasingly turning to. As voice-based average revenue per user declines, mobile operators are increasingly using Rancard’s content discovery platform to profitably increase data revenues by delivering targeted content to their subscribers.
The company has developed a cloud-based social recommendations engine called ‘Rendezvous’, which maps connections among mobile users and then uses this mapping of shared interests as a basis for recommending content to consumers.
Yemi Lalude, Managing Partner of Adlevo Capital said: “Rancard is a perfect example of African entrepreneurs bringing world-class technology solutions to market. The company is uniquely positioned to bridge the gap between content owners and mobile operators and is poised to benefit from the growth in mobile data services. Our lead investment in Rancard will leverage Adlevo Capital’s industryexpertise gained from backing successful mobile value-added service companies in other geographies.”
Arvind Sodhani, President of Intel Capital and Intel Executive Vice President, noted: “Africa is a market with attractive macro-economic trends which we believe will unearth great business opportunities for us. With technological developments playing a key role in the region’s economic growth, we are seeking out Africa’s leading technology companies and great entrepreneurs as part of our mission to foster technology innovation globally.”
Christian Morales, General Manager, Europe, Middle East, Africa of Intel Corporation said: “As a business Rancard provides a wide range of services that are well placed to meet consumers’ rapidly shifting demands, particularly as the market for cloud based mobile content grows. It’s a company that has a promising future and one we feel could benefit not just from access to our capital, but also from our global network and technological expertise.”
The deal marks Intel Capital’s first investment in West Africa. Intel Capital is represented in the region by Sam Mensah, who is Investment Director for sub-Saharan Africa. This latest investment builds upon Intel Capital’s long track record of supporting the growth of companies which deliver innovative technology solutions.
MORE VALUE ADDED SERVICES NEWS
Survey shows extent of multi-screeningMobile advertising network InMobi has revealed that 62% of mobile web users indulge in multi-screen activities while viewing TV. Read More
Netxcell, Funmobile to add to MTN VASTelecom technology services firm Netxcell and Funmobile are to implement new services for MTN in West Africa. Read More
MTN launches CANAL+/CANALSAT payment via Mobile MoneyMTN Cameroon’s new CANAL+/CANALSAT bill payment package allows consumers to make their re-subscription payment via mobile. Read More
BBM coming to Android, iOSBlackBerry plans to make its popular BlackBerry Messenger (BBM) service available for the first time to iOS and Android users later this year. Read More
Mobile content revenues to pass USD65bn in 2016Juniper Research has revealed that annual revenue generated from content delivered to mobile handsets and tablets is expected to reach USD65bn by 2016. Read More
Mahindra Comviva expands Africa mobile musicMahindra Comviva is expanding its mobile music offerings for Africa, in partnership with over 70 local and international content providers. Read More
SA’s Waytag shortlisted for BlackBerry Achievement AwardThe Waytag location app for BlackBerry 10, available in SA and Nigeria, has been shortlisted for a BlackBerry Achievement Award. Read More
Full stream ahead for mobile musicMobile streamed music revenues will rise more than 40% this year to USD1.7bn, says Juniper Research. Read More
M-PESA goes out to dinnerNow M-PESA users will be able to pay for restaurant meals using their mobile money, says Safaricom. Read More
FEATURED STORYICT opens doors for Kenyan slum dwellers
A Nairobi based group is equipping high school girls from Nairobi's slums with ICT skills to help them participate meaningfully in building the economy.
BEST READ NEWS
IN DEPTHDollar-a-month broadband can change Africa
The Microsoft-led 4Afrika TV white spaces project, taking broadband to rural people for as little as a dollar a month, is now expanding in Kenya and launching in Tanzania.
COMPANY NEWSBotswana innovates with SAP Business One
The Botswana Innovation Hub (BIH) has appointed local SAP Business One specialists 4most to implement an affordable, easy-to-use business management software application.Samsung puts the spotlight on enterprise solutions
Samsung Electronics South Africa has announced its support of the upcoming Enterprise Mobility Forum.Sage Pastel Evolution: the modern ERP tool for the modern Kenyan business
This week’s Sage East Africa Conference, entitled Innovation Beyond Boundaries, attracted over 100 existing and potential customers to the Sankara Hotel in Nairobi.