Seven takes stake in unified messenger

Just one day before its ASX debut, mBox.com has sold almost 9 per cent of its business to the Seven Network's online division, i7.

Paying $2 million for 7 million mBox shares, i7 now owns an 8.9 per cent stake in the unified messaging technology company. As a result of the agreement, the companies said mBox would be the exclusive messaging service provider to the i7 web portal.mBox said it would use the capital injection to fund further advertising and mounting infrastructure costs.

Earlier this year, US internet group NBC Internet (NBCi) bought a "significant" stake in i7. NBCi is 47.3 per cent owned by General Electric.

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