24MAS, the Swedish mobile technology company setup in 2001, is looking to IPO in the US during the second quarter of 2013. The company has three major business areas; mobile marketing and advertising, application development & publishing and managed services & solutions. The company has offices in Asia Pacific, Latin America, Europe and North America. The company works with over 200 operators, handset manufacturers and technology companies around the world. While being spread out, the company employs only 148 people in ten offices around the world.
As for the IPO, there were no specific figures released yet.
The company has been acquiring companies affiliated with the mobile industry earlier and plans to continue to do so in the future after its IPO. Back in January 24MAS announced it has acquired Liquid Air Lab GmbH from Germany.
24MAS has also appointed Lars Lindqvist as the new CEO of the company. He has a financial background and experience in Nasdaq related activities hinting that the company is likely to pick Nasdaq over NYSE.
“The US market offers great potential for a company like 24MAS and to be able to go public in one of the world's largest markets is a fantastic opportunity, which will bring tremendous gains for our customers, shareholders, and employees,” says Lars Lindqvist, CEO of 24MAS.
24MAS is also looking to acquire a couple of strategic companies in the B2C space that would help build up their presence in that market. In addition they are setting up shop on both east and the west coast with new offices and new recruitments.
“We are in a favourable position as the company has built up capital stock from existing shares. This allows for the planned acquisition strategy, which is an important part of our IPO,” explained Mr. Lindqvist.