Nokia to acquire Montreal's OZ Communications

Posted by Rob Lewis

Toronto's Wellington Financial LP announced today that Wellington Financial Fund III portfolio company OZ Communications has entered into an agreement to be acquired by Nokia Corporation. OZ is a leading mobile messaging provider of mobile IM and consumer email services. In April 2008, Wellington Financial provided a $10 million venture debt financing commitment for OZ. The funds were used for general working capital purposes and to enable the company to expand product development.

Wellington Financial LP is currently managing a $400 million investment program via Wellington Financial Fund III. Since Fund III began operation in September 2006, Wellington Financial LP has led approximately $160 million of transactions, making it the most active fund of its kind in Canada.

Side note: the Wellington team blog was voted one of the Top 10 Financial & Market blogs by readers of The Globe & Mail newspaper.

Company:
OZ Communications
Website:
http://www.oz.com
Location:
Montréal, Québec, Canada

At OZ, delivering leading consumer mobile messaging solutions inspires us. For the past 5 years, the technology needs of consumers have shaped our strategic vision, leading us to develop mobile IM, Email and Social Networking solutions that empower consumers to stay connected with the most popular service that they are already using on the Internet - but on their mobile phones. more

Company:
Wellington Financial
Website:
http://www.wellingtonfund.com/
Location:
Toronto, Ontario, Canada

Wellington Financial LP is a privately held specialty finance firm providing term and amortizing loans up to $30 million and venture debt loans up to $10 million. Wellington Financial LP is currently deploying a $500 million investment program via its fourth fund. The fund's clients vary in size and business model, but generally have current year revenue in excess of $5 million. Limited partners include several of... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more




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