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NeuStar acquires Israeli co Followap for $140m
By Gil Shlomo
Nov 28, 2006, 09:54
Carmel Ventures has reported a significant exit, with the sale of its portfolio company Followap Inc., a developer of advanced platforms for instant messaging on cellular devices, to US directory and clearing house services provider NeuStar Inc. (NYSE: NSR) for $140 million. NeuStar has a market cap of $2.35 billion.
Based in the UK, Followap provides next-generation communications solutions for network operators, delivering interoperability between operators and Internet portals in five different functional areas: instant messaging, presence, multimedia gateways, inter-carrier messaging hubs, and services for handset clients. The company’s R&D division is based in Haifa.
Carmel Ventures led a financing round for Followap in 2001, raising $12 million.
Published by Globes [online], Israel business news - www.globes.co.il - on November 28, 2006
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