MOKO.Mobi Acquires UK Mobile Video Community Service Eyevibe

18th Jan 2011. Limited (ASX:MKB) has announced that it has reached agreement with UK firm Yospace Technologies Limited for the acquisition of the UK based “EyeVibe” mobile video community service. EyeVibe is one of the leading UK mobile video community services, represented on all the major UK carrier networks.

Financial terms were not disclosed, but are believed to be around A$1m. On January 14th announced that it has raised an additional $1 million in equity funding via a strategic share placement “with the proceeds primarily to be used to pursue a strategic acquisition in the UK and the supporting technical integration and marketing”. said the deal would be “accretive to its revenue stream” as the EyeVibe service is a profitable business.

This acquisition will result in the EyeVibe user base being migrated to the platform with replacing EyeVibe on the UK carrier portals. This will enable to be available on all the mobile operators in the UK and will provide with a significant increase in exposure and access to new users. The EyeVibe service is profitable and will be accretive to’s revenue stream. The acquisition is subject to completion of formal documentation and satisfactory due diligence by

“This strategic acquisition further strengthens our UK presence, in particular within the 3UK network, which has historically been our most successful market.” said Ian Rodwell,’s CEO. “We are excited about the opportunity the EyeVibe service will provide us in expanding and accelerating our reach in the UK market, which totals approximately 50 million subscribers across all carriers.”

EyeVibe is currently owned and operated by UK’s Yospace Technologies Limited (Yospace). In 2005, Yospace developed “SeeMeTV” community in partnership with 3 UK, followed afterwards with “LookAtMe!” on O2 UK. The services, then combined into a single brand, EyeVibe, which allows UK mobile subscribers to submit video clips captured on their mobile phones into a gallery, where visitors can download the clips on a “pay-per-view” basis.

About Ltd is a global platform that enables people to Chat & Share Anywhere. People from around the world use on their mobile phone or PC to meet new people, chat in real-time with likeminded people, upload unlimited photos & video, share links, and sample & recommend music from the many Music artist profiles. is available on multiple wireless carrier portals around the world.

Posted in M&A - Australia Media, M&A - UK & Europe and tagged , , , , .