Mobestar to acquire Mobile Life; investors yawn

LONDON-Wireless technology developer Mobestar Holdings plc will acquire Mobile Life Consulting Ltd. in an effort to expand its video dating services.
The company said it will spend $664,000 to snap up Mobile Life, a fellow U.K.-based company that develops wireless applications. The firms have worked together to deploy Mobestar’s FACE technology, which allows wireless consumers to interact anonymously or using nicknames over video.
“The FACE platform for the first time provides dating, social networking and television communities an opportunity to leverage the uniquely personal nature of the mobile phone and to bring the excitement and immediacy of live video calling to their customers,” said Peter Richards, Mobestar’s chief executive officer.
The acquisition is expected to close by year’s end. Investors were unimpressed with the news, however, sending shares of Mobestar down 2 percent on the London Stock Exchange.