With the acquisition, PocketGear's mobile app marketplace has been expanded to connect more than 32,000 developers in the PocketGear Developer Program with over 40 PocketGear-powered storefront and distribution partners, including 4 of the world’s top 5 handset manufacturers, 4 of the top 5 mobile operators in the US, 3 of the top 10 mobile operators globally, and leading media and ecommerce companies including Samsung, LG, Sony Ericsson, Research in Motion, Microsoft, T-Mobile, AT&T, and Verizon Wireless. The reach of PocketGear's direct to consumer app stores has also expanded to include the largest independent app store, Handango.com, joining PocketGear’s app store network that includes PocketGear.com, Mobile2Day.de, SymbianGear.com, AndroidGear.com, RIMGear.com, Smartphone.net, and PalmGear.com. In addition, more than 1,000 app developers are now using PocketGear’s developer storefront solutions to market and sell their mobile apps directly to consumers from their own websites and other marketing channels.
Upon closing, Jud Bowman will remain as President and CEO of PocketGear and Alex Bloom, current chief executive of Handango, will become Chief Operating Officer of PocketGear.
“Our vision is to facilitate an open app store ecosystem that supports every mobile device, every application, and every carrier network globally,” said Jud Bowman, President and CEO of PocketGear. "By combining the two largest independent app store companies, we're creating significantly more scale and value for all of the stakeholders in the open app store ecosystem."
Bowman added, "Handset manufacturers, carriers, and media companies now have a single marketplace where they can quickly and easily connect with developers, source a catalog of apps developed specifically for their supported devices, and create a branded, revenue generating storefront and app discovery engine that works across all devices, platforms, geographies, and carrier networks."
"This is an exciting time in the app store market and we’re thrilled to be joining forces with PocketGear,” said Alex Bloom, CEO of Handango. “As we increase our scale, not only can we further accelerate speed to market of new devices and applications in a rapidly changing marketplace, but we're also better positioned to help our distribution and developer partners increase the overall revenues per download from both paid and free apps."
PocketGear was represented in this transaction by Kip Johnson of Womble Carlyle Sandridge & Rice, PLLC.
About PocketGear, Inc.
PocketGear is the world's largest cross platform, open app store and content marketplace with a catalog of more than 140,000 paid and free titles available for discovery and download. To date, PocketGear has generated over $400 million in mobile application revenues for the more than 32,000 developers in the PocketGear Developer Program. PocketGear powers storefront and content solutions for over 40 partners, including 4 of the world’s top 5 handset manufacturers, 4 of the top 5 mobile operators in the US, 3 of the top 10 mobile operators globally, and leading media and ecommerce companies, including Samsung, LG, Sony Ericsson, Research in Motion, Microsoft, T-Mobile, AT&T, and Verizon Wireless. In addition, PocketGear operates the largest network of independent app stores, including Handango.com, PocketGear.com, Mobile2Day.de, SymbianGear.com, AndroidGear.com, RIMGear.com, Smartphone.net, and PalmGear.com.
PocketGear is headquartered in Durham, NC with offices in Munich, Germany and Irving, TX. For more information, please visit http://corp.pocketgear.com.
About Handango
Handango is the leading provider of smartphone applications globally for the BlackBerry®, Palm®, Windows Mobile®, Symbian OS®, and Linux platforms. Leveraging its 140,000+ apps, network of 23,000+ content partners, and vast distribution network, Handango delivers top-selling mobile applications including games, business and entertainment apps and productivity tools to millions of consumers. Applications can be downloaded via www.handango.com, partner Web sites, SD cards and Handango's proprietary on-device catalog, InHand, the industry's leading content delivery platform that allows consumers to purchase mobile apps directly from their smartphone and download them over the air. Handango's unparalleled content expertise has attracted numerous mobile industry partners, including Microsoft, Verizon Wireless, T-Mobile, Alltel, AT&T, 3UK, LG, SoftBank, Sony Ericsson, Samsung, Best Buy, The CarPhone Warehouse, CNET, and AOL.
Revolution Partners, a division of Morgan Keegan, is one of the nation's largest middle market investment banks specializing in mergers and acquisitions, private capital advisory and complete public equity capital markets services for the technology industry. Revolution Partners is highly-regarded for its expertise in particular technology niches including software, Internet business services, telecommunications, wireless, clean tech, digital media, storage and semiconductors.
Revolution Partners was founded in 2001 by former senior technology bankers from major Wall Street investment banks. The firm's bankers have executed M&A transactions exceeding $10 billion in value over the course of their careers, including some of the most successful mergers in the industry. The partners also have raised over $6 billion of private capital for more than 100 clients. Today, with offices in Boston, Los Angeles, New York and San Francisco, Revolution Partners continues to apply its partner-level experience to the successful execution of advisory and financing transactions for emerging technology companies.
In 2008 Revolution Partners was acquired by Morgan Keegan & Company, Inc. whose investment banking, brokerage and asset management capabilities are delivered by 4,400 employees from 300 offices. The firm is a subsidiary of Regions Financial (NYSE: RF), one of the nation's largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services. Together with Morgan Keegan, Revolution shares an entrepreneurial culture and commitment to high-quality transaction execution led by experienced senior bankers. For more information, visit www.revolutionpartners.com.
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