Sourcebits acquired by Globo Plc

Enterprise mobility management solutions & SaaS provider Globo has acquired the services division of Sourcebits for an undisclosed sum. It’s an all cash deal and was was structured on a debt free and cash free basis. Post this transaction, Sourcebits’ assets of $1.57 million and liabilities of US$0.97 million, including $0.347 million deferred revenue will also be transferred to Globo. This acquisition will provide Globo access to Sourcebits’ developer resources, customer relationships and brand name, which will apparently allow them to expand its enterprise offerings, particularly in the US. Link

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