GLOBO acquires Silicon Valley app developer Sourcebits

Leading enterprise mobility software firm will use purchase to expand offering

Enterprise mobility solutions and software-as-a-service (SaaS) firm GLOBO this week announced the acquisition of San Francisco-based enterprise app developer Sourcebits, for an undisclosed sum.

The purchase, which will see the AIM and LSE-listed tech firm take over Sourcebits’ services division, will add the US company’s range of app and web design development services to GLOBO’s own offering.

Founded in 2006 by Rohit Singal, Sourcebits has developed more than 500 mobile, web and desktop applications for its clients since launch, with around 30 of these listing in the top ten positions of mainstream app marketplaces including iTunes.

Its client base contains several leading brands including Procter & Gamble, Coca-Cola, Hershey’s and Bank of America.

GLOBO said the Sourcebits team would continue its operations in San Francisco and its secondary headquarters in Bangalore, India, following the deal, with its offering set to become part of GLOBO’s own app development arm GO!AppZone.

Incorporated in 2005, Kent-based GLOBO has grown to become one of the leading companies in its sector, with revenues approaching $100m in 2013 and 217 employees.

Its latest acquisition follows last October’s $5m purchase of another Silicon Valley-based company, wireless tech company Notify Technologies, in advance of GLOBO relocating the company’s centre to the region in a few months’ time.

Costis Papadimitrakopoulos, chief executive of GLOBO, said: “We stated our intention of expanding GLOBO’s footprint in North America a while ago.

“Our first move was the acquisition of San Jose, California based Notify Technology last October. This acquisition reinforces our commitment to US market, and gives us access to Sourcebits’ developer resources, customer relationships and a solid brand name.”

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