Australian mobile Internet and messaging company BlueSkyFrog has received a $4 million investment from a UK-based investment company to help launch its youth brand onto the global stage.
Serano Corporation, founded by telecommunications veteran Robert Condon, has taken a 20 per cent stake in BlueSkyFrog with an option to increase its shareholding in the future.
BlueSkyFrog offers mobile phone ring tones and screen icon downloads and the ability to send and receive SMS (text) messages and information services.
A company spokesman says it has built a customer base of more than 1.5 million Australian mobile phone users since its founding in 1998. It also claims an opt-in user base of more than 290,000 members for third-party e-mail and SMS special offers. The company is now extending its wireless solutions into the business market.
Graham Merrett, founder and CEO of BlueSkyFrog, said the investment would let the company further investigate opportunities in the mobile messaging and wireless Internet in Australia and overseas.
Condon said the Serano aims to make a small number of active investments in developing telecomms-related technology business.