Intel Corporation has acquired an equity stake in Ghanas Rancard Solutions Limited, a provider of cloud-based software for mobile content
The move marks the microchip-manufacturer's first investment in West Africa. The deal was finalised by Intel's subsidiary, Intel Capital, along with a second investor, Adlevo Capital Managers, a Mauritius-based private equity fund.
"The investment will play a vital role in enabling us to expand our footprint across Africa on both a reputational and operational level. We're delighted that both Adlevo Capital and Intel Capital have agreed to come onboard at a time of such opportunity," Rancard chief executive officer Kofi Dadzie said.
Rancard Solutions has developed a cloud-based social recommendations engine called Rendezvous, which has mapped connections among mobile users and used this mapping of shared interests as a basis for recommending content to consumers.
Intel Corporation Africa general manager Christian Morales added, "As a business, Rancard provides a wide range of services that are well placed to meet consumers' rapidly shifting demands, particularly as the market for cloud-based mobile content grows."
Mobile operators are increasingly using Rancard's content discovery platform, as voice-based average revenue per user declines, to profitably increase data revenues by delivering targeted content to their subscribers.
Adlevo Capital managing partner Yemi Lalude revealed, "The company is uniquely positioned to bridge the gap between content owners and mobile operators and is poised to benefit from the growth in mobile data services. Our investment in Rancard will leverage our expertise gained from backing mobile value-added service companies in other geographies."
