Private equity snares stake in Mobile Messenger

Private-equity firm Silver Lake Sumeru said it has acquired a majority stake in Australian startup Mobile Messenger.
Financial details were not disclosed.
Mobile Messenger’s technology platform powers premium SMS and MMS campaigns in its home market as well as North America and New Zealand. The 8-year-old firm also offers billing, customer relationship management and mobile marketing consulting services.
Siler Lake Sumeru serves as the technology-focused investment fund within Silver Lake.
“Over the past eight years, we have built a leading position in one of the world’s fastest-growing industries,” said Mobile Messenger CEO Steve Taylor. “By delivering quick-to-market mobile entertainment communication campaigns that generate substantial revenue for our customers, we have been able to continue to solidify our leadership position in established markets.”