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Mobile VAS Co Cellebrum Plans For IPO This Fiscal

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.