Acquires 45% Stake in New Western Australian based Mobile Network Operator MeU
Sydney, April 2, 2015 AEST (ABN Newswire) - Global technology operational accelerator Yonder & Beyond Group Limited ("Yonder & Beyond") (
ASX:YNB) has acquired a 45% share in new West Australian-based mobile network operator MeU, which plans to officially launch its unique B2C customer offerings during April of this year.
Key terms of the transaction:
- Yonder acquires 45% interest in MeU Mobile
- Yonder to receive $22,500 per month Service Fees
- Total investment of $400,000, being $275,000 cash payable in instalments and $125,000 conversion of Service Fees to Equity
MeU has been operationally tested with a live and active fee paying member base. It is in its final stage before official public launch. It has positioned itself to be a disruptive, innovative force within the telecommunications sector. With a firm focus on the member and today's data hungry consumer, coupled with standout customer service delivered to members by a dedicated team of Australian member service representatives.
MeU will be Australia's first Social Mobile Network(TM) having developed a bespoke innovative socially connected platform to enable its members to connect both socially and with MeU's customer centric service representatives in a cheaper, faster and more intuitive way.
MeU's class leading mobile products provide a 3G footprint of 98.5% of the Australian population covering 1.3 million square kilometres, using part of Telstra's 3G mobile network. Also, using a best in class billing engine and a highly personal customer facing platform MeU members will engage with a mobile product that leads on product and differentiates on service, while at all times being transparent on pricing.
Commenting on the investment in and strategic partnership with MeU, Yonder & Beyond CEO Mr Shashi Fernando said, "We believe the MeU team has created a truly social mobile network, which will prove to be a disrupter in the Australian market, offering members exceptional coverage, member focused pricing and world's best class customer service."
"We are genuinely excited to be working with this highly innovative and driven team and believe this offering will integrate well with our existing asset/investment portfolio and resonate well with our global telecommunications partners and contacts."
MeU founder Brodie Rice added that, "as the MeU team gear up for our launch during April, which we're proud to say will be Australia's first Social Mobile Network(TM), we are also delighted to have secured the investment and strategic support from fellow innovators and fellow disruptors at Yonder & Beyond, a team with a proven capability in the development and delivery of world-class technologies globally, particularly focused on innovative mobile solutions.
"A key aspect of this partnership will be the relationships and previous experience that the Yonder & Beyond team have with global decision makers within handset manufacturers, content providers and social platforms, delivering access to services and products not normally available in the Australian market."
About Yonder & Beyond Group Ltd
Yonder & Beyond Group Ltd (Y&B) (ASX:YNB) is a portfolio of synergistic technology assets with a focus on mobile businesses. These include Gophr, Boppl, Prism Digital, PlayMeet and MeU Mobile. Yonder & Beyond's strategy is to identify and develop disruptive applications with high commercialisation and scalability potential.
Yonder & Beyond equip startups with vital capabilities beyond capital. Our philosophy is to invest in people, as well as invest in their business, so they can both grow and succeed. We are dedicated to contributing to the development of businesses through our resources, experience and relationships.
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