Lava acquires Panama-based B Mobile; signs global licencing deal with Motorola
By MYBRANDBOOK
IPO bound handset brand Lava International has acquired Latin American handset brand B Mobile for $50 million and inks global licensing deal with Lenovo-owned Motorola to launch Moto-branded features phones, the company revealed in its Draft Red Herring prospectus (DRHP).
B-Mobile is a low-cost handset provider in Latin America with a distribution network consisting of mobile carriers, retailers and local distributors. Owned by China Bird CentroAmerica, B Mobile sells 20 different products including feature phones, smartphones and other wireless devices in Latin America.
B-Mobile Group reported annual revenues of approximately $$72 million and EBITDA margins of 6.30% during the twelve months ended December 31, 2020.
Lava said that the acquisition of the B-Mobile Group will provide it with access to an established market and consumer base in 31 Latin American countries and allow it to benefit from the “immense growth of mobile handset market in Latin America.”
Lava will soon launch Moto-branded feature phones in India and also in other markets later. Lava is also doing pan-India distribution for Motorola.
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