Small Planet sells Russian mobile connectivity and payment company to Boku
BOKU, the San Francisco based online payment service company, has acquired 100% ownership of Laika Mobile Connectivity from Small Planet, Access Propeller and Mr. Pasi Marjanen. Laika Mobile Connectivity is providing mobile payment services in Russia and the Baltics and has a long history in carrier connectivity and mobile payment business in the area.
Laika Mobile Connectivity has an interesting history in Russian and Baltic’s carrier connectivity and mobile payments. Laika Mobile Connectivity was founded by Small Planet, Access Propeller and Mr. Pasi Marjanen by acquiring Jippii Mobile Entertainment’s business operations in Russia, Estonia, Latvia and Lithuania in 2006. The portal Jippii was the first mobile service to become a market leader in Russia and thus the company inherited extensive experience in providing premium SMS services for the Russian mass-market. The connectivity related operations were separated and incorporated into a new company named Laika Mobile Connectivity Ltd. At that point former Paymo, nowadays Boku, joined the company as a partner, investor and minority shareholder.
"Four years ago we chose to work with Boku because of their enthusiasm and vision in building mobile online payments and especially targeting mass markets. I was personally strongly involved in ramping up the business of Laika Mobile Connectivity, recruiting the current CEO Mr. Alexis Battle and setting up the partnership deal with Boku. The business has been doing fairly well despite the turmoil in the markets. It pleases me that Boku made the offer to buy the whole company, as Boku is exactly the right kind of partner to take the Russian and Baltic’s mobile payment business to the next level”, comments Rasmus Roiha, former Chairman of Laika Mobile Connectivity, Partner of Small Planet.
“I am happy that the shareholders came to an agreement of the sales to Boku. Boku has been a good partner so far, and looking forward being part of a fast growing and expanding operation is thrilling. Russia is a huge market with huge opportunities, and it is clear why Boku wants to be part of it also”, notes Alexis Battle, CEO of Laika Mobile Connectivity. “Let’s see how we will arrange the branding of the services going forward”, Alexis continues with a smile.
The contract was done in early October 2010 and Boku now owns 100% of Laika Mobile Connectivity. Payment was done in cash, the sum is not disclosed. Former shareholders and investors in Laika Mobile Connectivity are satisfied with having had the possibility to be part of the hopefully ever-growing payment business in Russia and the Baltic’s.
About Laika Mobile Connectivity
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