LONDON (Brand Republic) – United News & Media and Psion, the palm-top computer manufacturer, have formed a £9.5m mobile internet services joint venture called Trivanti.
The joint venture will provide wireless internet services for business-to-business and business-to-consumer communities, offering tailored mobile applications across a range of wireless technology platforms.
United’s interest in Trivianti will be managed by its European online division, Xilerate. The media giant will contribute £4.75m in cash, while Psion will contribute £3.15m in cash. Each will hold a 47.5% equity share in the new company.
At the same time, Psion has agreed to acquire Wap portal and SMS firm Fonedata. The acquisition will become part of the new joint venture with United, along with Psion’s existing internet division.
Trivianti will be headed up by Psion executive Gareth Hughes, who takes up the role of chief executive officer in the new venture. Hughes, who also holds the remaining 5% equity in Trivianti, currently has an executive board responsibility for Psion Internet at Psion. Andrew Nugee, chief operating officer of Xilerate, will be appointed chairman of the board and Fonedata’s managing director Simon Luttrel will join the management team.