US-based mobile technology firm Tiger Telematics has acquired Integra SP with the aim of using the London firm's AltioLive thin-client visualisation tool to develop a new business-oriented smartphone capable of delivering stock prices and analytics directly into the hands of traders.
The acquisition was agreed late last week as Tiger launched its next generation mobile entertainment device Gizmondo in the UK. The idea is to use Integra's AltioLive technology to develop a complementary business handheld, dubbed Bizmondo.
Mike Carrender, CEO Tiger Telematics says: "With Integra SP's rapidly expanding sales and customers that include Deutsche Bank, HSBC, The Nasdaq Stock Market and Deutsche Börse we are adding a strong, established business entity in its own right to the Tiger Group."
Carl Freer, managing director of Gizmondo, says Altio will bring Level 2 price distribution and trading to the business handset.
He adds: "Bizmondo will provide real-time remote access to multiple functions ranging from financial services information, corporate applications, email and messaging whilst on the move."
The acquisition is expected to be completed next month. Financial details were not disclosed.