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Wifi provider Gowex invests in mobile marketing Ideup!!

Gowex, the global leader in smart city wi-fi provision, has this week announced it's purchasing IdeUp!, a leader in digital B2B mobile marketing services. The price has been kept confidential, although some have speculated that a 5 million price tag may not be wide of the mark.

IdeUp!, a startup in the mobile marketing arena founded by Antonio Mas, employs 40 people and in 2012 achieved 2,2 million euros in revenue. They have a wide range of clients that include Iberia, Carrefour and Citigroup. One recent project they were involved with was Stockbuzz, a BBVA site that analyses financial sentiment by the anlysis of relevant tweets.

Gowex has already made a name for itself this year, by gaining contracts to supply free wi-fi to cities such as New York, San Francisco and Rio de Janeiro, and the company intends to expand to 300 cities by 2018. The company makes money through the sales of advertising, e-commerce and other services on those networks, and the tie-up with IdeUp! looks certain to exploit relevant synergies.

Shares in Gowex have more than doubled in value this year, and prospects look still brighter - well-deserved good news for the founder Jenaro Garcia who has kept faith in the business and invested even in hard times. Last year alone revenues rose by 71% to 114 million euros, and 2013 looks set to be far better.

An example of free wi-fi provided in San Francisco by Gowex