XcelMobility makes technology acquisition to boost video capabilities
The mobile market is becoming an increasingly important aspect for technology companies to account for in their daily operations. With more customers turning toward their cell phones and tablets as a means of communication, they want reliable equipment and a fast internet connection. Businesses that offer these types of products and services are beginning to consider technology mergers and acquisitions that can keep them ahead of the competition.
XcelMobility Inc., announced late last week that it had acquired Shenzhen Jifu Communication Technology Co., Ltd. The latter company specializes in video surveillance systems, software platforms and fiber optic solutions, according to an XcelMobility press release.
Additionally, Shenzhen Jifu technology allows video, imagery and audio streams to be recorded together with navigation, such as GPS.
XcelMobility's executive chairman of the board Ron Strauss said in the press release that the launch of his company's Mach 5 LBS product made it easier to create location-based solutions that help corporate image display. Additionally, the Mach 5 can help companies in new store expansion and operations management.
"The need for the most advanced location-based technology has become essential in order to compete in today's competitive smartphone industry," Strauss said. "By combining Jifu's video solutions team with our LBS group, our combined engineering team and salesforce has the potential to deliver the industry's most advanced application for location-based technology on mobile devices."
He added that XcelMobility is now entering the market with expected sales of over $3 million in 2013 and that his company is looking forward to even more financial growth.
When M&A activity is thorough, both companies involved can benefit from it, along with their customers.