OZ
Communications Inc. has entered into an agreement to be acquired by
Nokia Corporation
OZ is a leading mobile messaging provider of
mobile IM and consumer email services. In April 2008, Wellington Financial
provided a $10 million venture debt financing commitment for OZ. The funds
were used for general working capital purposes and to enable the company to
expand product development.
OZ has 5.5 million monthly paid subscribers. The services allows
mobile users to access instant messaging services from AOL, Google,
Microsoft and Yahoo.