Photobucket, Ontela announce plans to merge
Photobucket, Ontela announce plans to merge
The combined company, Photobucket Corporation, will bring together Photobucket’s audience of more than 22 million monthly unique users in the U.S. with Ontela’s software that is currently used by more than 30 carriers, Verizon (NYSE: VZ) and T-Mobile (NYSE: DT) included.
News Corporation, which acquired Photobucket in 2007, will hold a significant equity stake in the combined company and will be represented on the company’s board of directors. The Photobucket management team will continue to operate the business and play strong leadership roles in the combined company.
Ontela’s investors, on the other hand, will make an additional capital commitment as part of the merger and will hold significant equity positions in the combined company…
Filed Under: Breaking News
About the Author: Amay Kulkarni, an engineering student at the University of Mumbai and a geek, who loves technology. It started with gadgets, but in the past few years his passion has turned to mobile devices. Amay is a mobile phone fanatic who lives and breathes devices that give users mobility. He is strongly opinionated and very much passionate about what he writes. He has been blogging since 2008 and joined HotCellulatPhone.com
