Yonder Media Mobile reaches an agreement to acquire Weex Mobile, Mexico's leading Millennial-centric MVNO
- Deal creates first Mobile Virtual Experience Provider ["MVXP']
- Provides Yonder Media Mobile with immediate access to broad, engaged customer base
NEW YORK, Aug. 8, 2019 /PRNewswire/ -- Yonder Media Mobile Inc. ("YMM"), a closely-held New York City-based company that has created a highly localized, personalized, social, transactional and ultimately experiential platform for the mobile distribution of bundled media, today announced that it has reached an agreement to acquire Weex Mobile, the leading Millennial-centric MVNO in Mexico. Yonder Media Mobile intends to rebrand Weex Mobile to Yo and formally launch in Mexico in early 2020.
Yonder Media Mobile's mission is to democratize access to premium, localized content and world-class services though an advanced technical platform that has been four years in the making. The platform integrates content and services around telco-grade connectivity and a highly transactional and social core. It offers affordable experiences that are bundled through AI-, community- and expert-driven curation that provides users all the information, entertainment and utility they need. In so doing, Yonder Media Mobile has established a new category of telco provider, which it terms Mobile Virtual Experience Provider ("MVXP").
The acquisition of Weex Mobile accelerates Yonder Media Mobile's route to market. By converting Weex Mobile customers to Yonder Media Mobile's MVXP model, Yonder Media Mobile will move users up the value chain and drive a revaluation of the business.
Weex Mobile has a strong track record of disrupting the Mexican mobile market with state-of-the-art technology that empowers its mostly millennial users to create an almost infinite variety of service packs. This has provided users with unparalleled price transparency and personalization of their digital lives. Yonder Media Mobile shares the same values of democratization and transparency, and looks forward to building on the strong platform Weex Mobile has created to deliver even better experiences to its users.
"This is an exciting moment for Yonder Media Mobile. By acquiring Weex Mobile, we gain overnight access to strong local management of more than 100,000 millennial users, and technical integration with one of Mexico's leading established Mobile Network Operators," said Adam Kidron, Yonder Media Mobile's Founder and CEO. "We believe passionately that a single, highly-localized and personalized platform that combines utility, content and services represents a step-change in mobile connectivity. We will deliver the best local content and entertainment to users, increasing engagement meaningfully beyond that of traditional mobile networks and OTT services. This is just the first step on our journey – there is a lot more to come."
John Cooper, CEO of Weex Mobile, commented: "We are delighted to combine Weex Mobile with Yonder Media Mobile. We have developed a thriving ecosystem of users, who are hungry for ever more experiences and entertainment. By combining Yonder Media Mobile's technology and content know-how with our on-the-ground expertise in Mexico, we believe we can build the future of mobile in this country and provide our users with an enhanced service that rewards them for their loyalty and engagement in tangible ways. We look forward to our future together. Current users won't have any change in the services during the next few months while we start to deploy Yo technology"
The Fintech division of Weex that operates Weex Wallet is not included in the agreement and it will continue to operate independently of Yonder Media Mobile.
The transaction is expected to close on or before October 1, 2019.
About Yonder Media Mobile Inc.
Yonder Media Mobile ("YMM") is building the future of mobile connectivity – offering personalized experiences at the touch of a button and at affordable prices.
Telecom operators reach over 5 billion unique mobile subscribers worldwide. They have a simple and proven business model: people pay for their services (daily, weekly, monthly) and top-up because their services are essential. Producers and distributers of music, video, games and other digital experiences reach almost everybody on earth. But their business models are less robust: people often avoid paying for these services because they are non-essential.
Yonder Media Mobile fuses the two models into one platform, democratizing the distribution of premium, local content and dramatically improving the consumer experience – all at low cost. This is a new category of operator – the Mobile Virtual Experience Provider – which represents the future of mobile connectivity and mobile experiences.
Media Contact:
Gerard Boucher
Boucher + Co.
212-390-1402
[email protected]
Saul Kattan
Yonder Media Mobile Inc.
917-668-4308
[email protected]
SOURCE Yonder Media Mobile Inc.
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