Summary:

Israel-based Mobixell, which last year last year cut its staff by around 10 due to the business climate, has bought mobile internet company…

mobixell

Israel-based Mobixell, which last year last year cut its staff by around 10 due to the business climate, has bought mobile internet company 724 Solutions for an undisclosed sum.

Mobixell develops products that help mobile operators deliver mobile TV, advertising and other multimedia services, while U.S.-based 724 Solutions specializes in platforms that help operators optimize the delivery of mobile data services. Mobixell says it will use the acquisition to fill out its portfolio.

Together, the two companies count hundreds of mobile operators as customers worldwide, including Verizon Wireless, Vodafone (NYSE: VOD) in Europe, Orange and Bharti-Airtel. In 2009, the company had to downsize its operations “in response to economic conditions,” according to a spokesperson.

Mobixell and 724 Solutions each have over $20 million in turnover annually, said the spokesperson. Mobixell is funded by Apax and Intel (NSDQ: INTC) Capital and has raised $29 million in funding to date.

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