Updated below: As you know, we have been following the Zingy story (or for that matter, its parent, For-Side.com’s) pretty closely. Here is an update: as we reported first in Jaonuary, Zingy has been on the block and its investment bank has been hawking it, and now according to Telegraph of UK, For-Side.com has a name for the investment bank: Deutsche Bank, to advise it on the sale of US-based Zingy. In fact, it’s known that the Japanese firm is looking at retreating from all its non-Asian mobile content businesses. A separate sale of For-Side Europe, which owns UK-based Itouch, is also on cards. Close Brothers is advising the company on various strategic options for its Europe business.
Updated: Rafat: According to a Fobes.com story earlier this year, Zingy would gross about $60 million in revenues this year, so a $100 milion price tag would seem low…but with all the management and For-Side troubles, that may be the case.
Related
Zingy CEO and CTO Leaving; Succession Plan Unclear
Zingy On The Block, For-Side Retreating From U.S.?
For-Side Imploding; iTouch For Sale Again
The Mystery Called For-Side.com
Zingy Founder & CEO Steps Down
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