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Blackberry Mobility Featured Article

November 03, 2010

Acquisition of $5M African Mobile Wallet Operation Anticipated by NuMobile

By Calvin Azuri, TMCnet Contributor

NuMobile, Inc., recently announced that the company is in the final stages of the much anticipated acquisition of a mobile wallet operation that is headquartered in Nairobi, Kenya. David Lee, the incoming CEO of NuMobile, was in Nairobi last week to finalize the acquisition plans, while participating in a NewMarket Greenfield Partnership Program Trade Mission. The anticipated mobile wallet acquisition was featured in a Greenfield Webcast preview of the Trade Mission. The Webcast titled 'NewMarket Greenfield Program Webcast - United Nations Benchmark' is currently available for review.

Prime Equity Research recently released an initial research report that rated NuMobile as a 'speculative buy' with a target PPS of $0.13 and includes a review of the Company's overall business plan and details on two completed acquisitions. Incoming CEO Lee recently conducted a Webcast review of the research report. The Webcast addresses the report in the context of the over-the-counter market. 

The Webcast titled 'NuMobile Webcast - 4th Quarter Preview & $20 Million Annual Revenue Objective Review' is available for review on the Company's corporate website home and investor relations pages. For one year, Prime Equity Research is covering NuMobile and NuMobile anticipates a report update may follow the mobile cash operation acquisition.

NuMobile is currently building a portfolio of security and software solutions for the global mobile computing and smartphone market. By adopting a roll-up strategy, NuMobile plans to acquire and develop mobile computing solutions for a variety of applications, including mobile banking for the global marketplace. The current demand for mobile security and software applications is being driven primarily by the growing number of mobile phone sales into emerging economies that currently do not have substantial access to the Internet via desktop computing. Already in North America, the Company has also forged a partnership in the Chinese market and is developing a plan for the emerging economies of Latin America and East Africa. NuMobile is a SEC (News - Alert) fully-reporting public company listed on the Over-the-Counter Bulletin Board.

Calvin Azuri is a contributing editor for TMCnet. To read more of Calvin’s articles, please visit his columnist page.

Edited by Jaclyn Allard

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