Nice one Paul and the team at Apertio. Everybody’s favourite mobile handset manufacturer has swooped in with a £100 million offer.
From today’s Evening Standard:
BRISTOL telecoms tycoon Paul Magelli today made himself a multi-millionaire as he sold his mobile telecoms equipment company for £100 million to Nokia Siemens Networks. Canadian-born Magelli co-founded Apertio in 2002 with about £500,000 of seed capital. Today’s sale marks a successful end to a bumpy ride for Magelli, whose first backers tried to get him to sell the company for $25 million (£12.6 million) four years ago. Apertio employs 180 in Bristol and has offices around the world.
I wonder if that was one of those Christmasses where no one gets to see their families whilst the deal is hammered out over Turkey and Stuffing at the office on Christmas Day… either way, what a wicked success!
The official announcement is here.
You got some of it right. As his parents, his birth certificate reads Carle Hospital, Champaign, Illinois. Paul Jr. adds to the already illustratious list of technologies from U of I graduates like Mosiac, Netscape, Eudora, PayPal, UTube, and now Apertio. Paul J. Magelli Sr. Professor, University of Illinois and Scholar-in-Residence, Ewing M. Kauffman Foundation, Kansas City, Missouri–The Foundation of Entrepreneurship
I’ve yet to find someone who can actually tell me what these guys do.
They make sense of the huge amount of data mobile operators have. At least, that’s what I reckon..