Australia-based international MVNE United Networks will list on the Australian securities exchange (ASX) tomorrow after completing an A$7.1 million IPO.
United's main product is a white label global roaming service operating over cellular, Wi-Fi and GPS networks worldwide, targeted at corporate customers including insurers, airlines, banks and travel agents. The company also offers data and value added services.
This month, United launched a white label Wi-Fi application connecting users to unlimited data in over 57 million hotspots across 120 countries.
The company also offers a location based services platform that has recently been used to provide location and alert services for major events such as natural disasters and terrorist attacks.
United plans to use the proceeds from its IPO to expand the strength and coverage of the United network to help broaden its customer base and product range.
“The success of United’s white labelling has come from it being an attractive low cost customer acquisition program for corporates, as well as offering them a chance to convert this cost into a revenue earner,” United CEO Nicholas Ghattas said.
“With the launch of the Wi-Fi app we have streamlined the use of the global roaming product and we expect it to be the basis for its growing appeal among new and existing corporate customers.”