Yeigo Communications, SA’s first mobile VoIP company, seals groundbreaking multi-million dollar investment with US based mobile handset distribution firm.
Cape Town/Orlando 7 April 2008 – A year after bursting onto the market, South African based Yeigo Communications, driven by three savvy technology UCT graduates, has sold a stake to US based, Quality One Wireless (Q1W), for an undisclosed but heavily speculated, multi-million dollar investment.
Q1W has a substantial history in the distribution of mobile handsets and accessories and consequently strong and extensive relationships with carriers of all tiers and players in the telecoms space. In their view, software platforms such as Yeigo’s, will be key in the telecoms environment going forward, in order to easily and quickly provide new services on mobile devices beyond voice and data that are now considered by the industry and users alike, as standard.
This made the decision to invest in the high-potential company, a relatively simple one, given that Yeigo has consistently proven its worth over the intervening 12 months with steady growth of its unique service proposition.
“Differentiation and value-add, through new services such as data recovery and inexpensive conference calling that can be fully integrated on the Yeigo platform, will be pivotal for players in the global telecoms arena going forward. Not only will it create opportunities for new revenue streams, but will also attract and retain users through appealing value adding services. By partnering with Yeigo, we are guaranteed to receive evolving innovation that keeps up with the high demand of these users.” said Q1W President John Chiorando.
The outlook for Yeigo themselves is more than promising. “Partnering with Q1W will now provide us with our desired global platform for greater access to new markets and the capacity to conclude major licensing deals” concluded Rapelang Rabana, CEO Yeigo Communications.
Yeigo will continue to house its headquarters in Cape Town and will continue to employ and train young South Africans in the rapidly developing mobile telecoms market.
About Quality One Wireless (Q1W):
Quality One Wireless, LLC, is a leading global distributor of cellular handsets and other related wireless goods. It is a company with multiple affiliates in the wireless device sales, service, and distribution industry. The Nevada based Q1W with its Headquarters in Orlando, Florida distributes mobile phones and other related wireless communication equipment globally.
About Yeigo Communications:
Yeigo Communications (Pty) Ltd specialises in the development, implementation, and marketing of software-based communications solutions that take full advantage of convergence trends within the mobile arena. The company’s core business strategy is focused on partnering with internet, and telecoms service providers with the intention of offering our mobile VoIP communication solutions as an integrated part of their service own offering.
~ Steve Preston (media [at] yeigo [dot] com)