novero Continues Aggressive Growth Plans, Acquires Mobintech
novero Expands Portfolio of Smart Peripherals for Mobile Devices;
To Include Video Display Products Along with Existing Bluetooth Solutions
DÜSSELDORF, Germany–(BUSINESS WIRE)– novero, a company passionate about creating stylish wireless products that fit consumers’ lifestyles, today acquired Mobintech, a R&D company, specializing in design, development and production of microdisplay-based, low-power electronic products. The acquisition expands novero’s technology and product portfolio, positioning the company to offer a full line of smart peripherals for mobile devices and building additional revenue streams beyond its existing lucrative line fit Bluetooth® automotive solutions and consumer products.
“novero has seen a great deal of success in the past year through organic growth. We’ve also been searching for acquisitions that enhance our strategy – to offer the most beautiful designs with unique approaches to technology – and Mobintech fits our plans very nicely,” said Razvan Olosu, CEO and founder, novero. “This is the first of many acquisitions that’ll allow novero to offer our customers the most complete portfolio of mobile accessories which combine brilliant form and high technology.”
Mobintech debuted its groundbreaking technical expertise earlier this year, when it unveiled the world’s first personal display glasses (PDG) for mobile TV. The remarkable glasses operate on half the power required by a typical smartphone’s screen and provide a user with the equivalent display experience of watching a 30” flat screen in a living room. novero plans to leverage the patent pending Mobintech technology with its own established expertise in design, marketing, sourcing, logistics and channel capabilities to bring personal display products to market by 2010.
“Consumption of mobile TV and video on handsets is expected to reach 500 million users by 2012 and we’re already seeing strong adoption globally including in Japan, Korea, the UK and U.S.,” said Christian Zilstorff, CEO and founder, Mobintech. “In becoming a part of novero, we can add our expertise and take advantage of growth trends in mobile video to bring another successful line of products to market.”
Zilstorff will take on the role of Managing Director and he and the entire Mobintech technology and development team will remain onboard, operating within novero Holdings. The company will share resources and synergies with sister companies novero GMBH, responsible for automotive solutions and novero Canada, focused on consumer products. With the acquisition, the company’s global staff will strengthen its numbers to over 425 employees based across offices and design labs in Europe, Asia and North America.
novero has already provided line fit Bluetooth solutions for customers including Audi, Bentley, BMW, Ford of Europe, Jaguar, Land Rover, Mercedes-Benz and Volkswagen. novero also debuted its consumer collection with the launch of the highly acclaimed TheFirstOne Bluetooth earpiece earlier this year.
About novero
novero is a company passionate about creating wireless products that move seamlessly with your life while enhancing your style. By challenging the conventions of today with imagination and high-design, novero creates mobile lifestyle products that build unique levels of loyalty among sophisticated customers.
Founded by visionary Razvan Olosu via a management buyout of Nokia’s Automotive Group, novero is headquartered in Düsseldorf, Germany and designs wireless solutions for consumers and automotive clients. The company has delivered products for customers including Audi, Bentley, BMW, Ford of Europe, Jaguar, Land Rover, Mercedes-Benz, Volkswagen and Nokia. With over 425 employees worldwide across offices in Europe, North America and Asia, novero is a multinational company that thinks like a boutique in delivering exceptionally fashioned products that resonate with discriminating buyers. For more insight, please visit us at: www.novero.com.
