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Mobi acquires 33% stake in mobile mapping company Nutiteq

20.01.2010

Mobi Solutions has today announced its investment in Nutiteq OÜ, an innovative location-based mobile mapping company for developers, service and content providers. Mobi's investment will strengthen Nutiteq's product development and international marketing.

"Demand for location-based mobile applications is rapidly increasing" said Rain Rannu, partner of Mobi, "Nutiteq's brains and experience in mobile mapping are unique. Our teams share the same vision and breathe in the same rhythm - it's a great fit!"

Nutiteq's mobile mapping software is used by developers in USA, Germany, Middle-East, Northern Europe and Asia. The most popular service using Nutiteq's technology has over 2 million end-users in the US.

"Next few years are going to be exciting!" said Jaak Laineste, founder and CEO of Nutiteq"Mobi has an experienced team in mobile services while Nutiteq has gained worldwide recognition for its mobile mapping software. Jointly, we shall be able to bring new and exciting solutions to market."


Shaking hands on the historic Mobi - Nutiteq deal

Veljo Otsason, partner of Mobi Solutions and Jaak Laineste, founder and CEO of Nutiteq


Nutiteq wafounded in 2006 by Jaak Laineste, the former CTO and head of location-based technologies at Reach-U. Nutiteq provides mobile mapping solutions for developers, service providers and mobile operators. It's software is used by over 1000 developers in all corners of the world. More info at: http://nutiteq.com

Mobi Solutions, founded in 2001 is an innovative Estonia-based provider of SMS-services, mobile payments, mobile marketing and government solutions. Applications developed by Mobi's development team are used by over 40 million end-users worldwide. Mobi's daughter-company Fortumo Ltd offers mobile payment solutions in more than 30 countries in Europe and Asia. More info at: http://mobisolutions.com 

More info:

Rain Rannu, Partner of Mobi Solutions, rain.rannu@mobisolutions.com

Jaak Laineste, Founder and CEO of Nutiteq, jaak@nutiteq.com