Mobile value added service provider Cellebrum is expected to raise capital via an IPO this fiscal year, reports Livemint. Cellebrum is backed by MCorpGlobal, and got $15 million as first- round funding from Lehman Brothers. The company will use the money for acquisitions; they had also seeded a mobile social net: MobiSoc.
The report also talks about OnMobile planning to list this fiscal (it’s been written about before), and that OnMobile, Cellebrum, One97 Communications and Bharti Telesoft are looking for acquisitions, pre-IPO. The report states that consolidation will take place in the VAS industry over the next 12-18 months. VAS revenues were Rs2,850 crore in 2006 and are projected to touch Rs4,650 crore this year-end.