France Telecom-backed corporate venturing unit Innovacom has sold Bytemobile, a provider of data and video optimization services for mobile network operators, to network company Citrix for a reported $435m.
Bytemobile services more than 130 mobile operators in 60 countries and advisory boutique Architect Partners said the target company had estimated revenues of $60m per year.
Founded in 2000, Bytemobile had raised more than $56m.
Alongside France Telecom’s Innovacom unit as backers of ByteMobile, were venture capital firms Argo Global Capital, Benchmark Capital, BlueRun Ventures (which spun out from phone maker Noklia in 2005), CrossBridge Venture Partners, Dot Edu Ventures, Eastven (telecom equipment maker Ericsson’s former venturing unit), Skymoon Ventures, Trident Capital, Eagle Technology Ventures (a fund backed by Craig McCaw) and Vesbridge Partners.
Bytemobile’s series C round closed at $12.1m in January 2005, three years after its $29m to $30m B round that also included RB Webber and WireFree Services, and following a $15m A round the year before.
The sale of Bytemobile follows December’s purchase by Drimki of Innovacom portfolio company Refleximmo and is the venture firm’s first exit since independence from France Telecom.