BANGALORE: Globo, an international enterprise mobility management and telecom software products and solutions traded on the London stock exchange’s small-cap AIIM market has bought SourceBits, San Francisco based Bangalore startup, mobile application service and proprietary products company.

The acquisition has merited Globo’s strategic objective, providing them with more powerful and compelling resources, customer relation and brand name, which presumably expand their enterprise. SourceBits hence has become a part of Globo’s Mobility Business Service Division (MBS).

Barry Ariko, Chairman of Globo, commented, "The acquisition of Sourcebits is another significant step for Globo as we address the massive opportunity of the Mobile Application Development Platform market for enterprise customers. The quality of skills, clients and strong branding that Sourcebits adds to Globo will allow us to compete for more and larger Mobile Application Development projects and take advantage of our GO!Enterprise/ GO!AppZone MADP offering,” reports Your Story.

He also added, “Adding 167 Sourcebits' employees in San Francisco and Bangalore further strengthens our U.S. presence and establishes our presence in India. We believe a global footprint can offer Globo a significant advantage in human resources, skill set and cost base. Having delivered strong results for 2013, and with current trading strong and organic growth underpinning our expansion, we are confident and excited about our future success.”

SourceBits’s assets of $1.57 million and liabilities of $0.97 million, including $0.347 million deferred revenue will be transferred to Globo. It  has like Intel, SAP, P&G, The Coca-Cola Co., Hershey’s, Bank of America and Columbia University and Globo would further compete for new clients with their GO!Enterprise platform.

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