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Handmade's tale tempts Doughty

By Elliott Davis on November 22 2005

Handmade Mobile Entertainment, the mobile phone content provider behind Flirtomatic – billed as quick and easy flirty text messages and live chat – has secured the backing of private equity group Doughty Hanson’s technology division.

Although the exact details of the deal have not been disclosed, Doughty Hanson’s Ivan Farneti states that ‘Handmade Mobile’s model is validated and works worldwide,’ adding that several ‘big brands’ have already expressed an interest in working alongside the company. The mobile content market is rapidly expanding and is expected to be worth around £750 million globally by the end of the year – up from a mere £40 million in 2002. Flirtomatic represents Handmade’s first real attempt at addressing this market.

Technology-focused investment bank GP Bullhound helped broker the deal between Doughty Hanson and Handmade, which is bossed by Avi Azulai and Mark Curtis. As a co-founder of iTouch – a rival mobile entertainment business recently sold for £180 million – Azulai already has a fair pedigree in the sector.

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