Monday, January 12, 2009

Mobui Receives Investment from Texas Firm

Redmond, Wash.-based mobile applications publisher Mobui Corp. has received a strategic investment from a cellular services provider and consumer electronics retailer, the investor announced Monday. Financial terms of the transaction were not disclosed. Fort Worth, Texas-based Teletouch Communications Inc. said that, as a result of the investment, it gains access to a large and growing catalog of mobile software designed for many popular wireless devices, including Apple Inc.'s iPhone and Research in Motion Ltd.'s BlackBerry. According to Teletouch, Mobui will use proceeds from the transaction to fund product development and customer relations. Teletouch added that its president and chief operating officer, T.A. "Kip" Hyde Jr., will join Mobui's board of directors, effective immediately. Privately held Mobui develops applications that help consumer, media and mobile companies expedite "time to market" for their brands.