Press Releases

Proposed Merger between Mercury and m.Net Corporation Limited

Mercury Mobility Limited (Mercury) is pleased to announce that the company signed an agreement to merge with m.Net Corporation Limited (m.Net) today. The combined group will be well positioned in the fast growing mobile marketing and content space.

The synergies between the complementary businesses will produce a new generation of mobile expertise and capabilities, targeting global mobile carriers, media companies and content and brand owners.

The combined group will boast a robust shareholder base of Yahoo!7, through its wholly-owned subsidiary Yahoo Digital Media (Content), Alcatel-Lucent Australia, Telstra Corporation and CVC Limited. The impressive stable of major shareholders will provide the combined group with an increased international presence and pathways to deliver innovative marketing technologies and content.

The merger will see Mr Horden Wiltshire, currently the CEO of m.Net Corporation, become the CEO of the combined company and Mercury Mobility’s Founder and Managing Director, Mr Ben Grootemaat, become an Executive Director, working closely with Mr Wiltshire to drive existing and new opportunities.

“The mobile market is growing very quickly and the merger positions us to take advantage of the rapidly emerging opportunities in the industry. Combined we have an enviable client list and our two workforces now become part of a larger, stronger organisation," said Mr Wiltshire.

Mr Grootemaat added that the combined businesses will capture a clear leadership position in the Australasian digital media market by leveraging competitive competencies between the mobile entertainment market and the mobile advertising market, which will provide a rich and exciting offering of end-to-end mobile solutions.

“The combination of Mercury’s existing business in Canada combined with m.Net’s work with Yahoo! in North America will provide us with a strong foothold to further expand in the North American marketplace,” said Mr Grootemaat.

Industry heavy weights Yahoo!7 and Alcatel-Lucent Australia have been long term supporters of m.Net and will remain significant shareholders in the newly combined company.

“Audience demand continues to grow for mobile content and services and in line with this advertisers are looking for innovative mobile advertising and marketing solutions. Our relationship with m.Net has assisted Yahoo!7 in being on the forefront of this new content and advertising medium and the merger allows m.Net to cement its position as a clear market leader,” said Rohan Lund, CEO, Yahoo!7.

“The mobile content and digital media market is becoming increasingly exciting as the speed, quality of service and intelligence of carriers’ next generation networks is harnessed by innovative application developers, enabling the creation of rich media content and sophisticated services. This is very aligned to our organisation’s applications enablement strategy, and it is great to see the merger of m.Net and Mercury demonstrating a commitment to driving enablement and helping their customers to dramatically change the way people use their mobile devices,” said Andrew Butterworth Managing Director, Alcatel-Lucent Australia.

For more on this announcement see:
m.netcorporation.com