Lehman Brothers In Talks With Cellebrum To Pick Up 20%

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Cellebrum, a mobile content and applications company owned by Delhi-based MCorp Global group, may get investment from Lehman Brothers, reports The Economic Times. The US-based investment banking group is ramping up its operations in India, and if the deal goes through, Cellebrum will be its first private equity investment in the country. Lehman is expected to pick up 20 per cent stake in the MCorp subsidiary which offers mobile content like ringtones, games and other content applications, besides enterprise telecom solutions. The report quotes sources as saying that Lehman is expected to pay around $12-15 million for the proposed stake. KPMG is advising MCorp Global on the deal.
If you recall our earlier story, Cellebrum is planning an IPO next year. So this is a pre-IPO placement so to speak. Cellebrum provides services to a host of telcos like Idea Cellular, Reliance Telecom, Spice Telecom (owned by the group), Bharti Tele, Hutch, BSNL, MTNL and HFCL Connect.
In an interview to ContentSutra in April this year, Cellebrum’s marketing head Savinder Sarna said that the company would be looking at acquiring companies in the content space, especially mobile gaming companies.

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