LOS ANGELES | October 12th, 2010 – Redwood Capital announced today that it has completed the restructuring and recapitalization of Distributive Networks, Inc. and renamed the company ArX Mobile, Inc. (“ArX Mobile” or the “Company”). As a result of the current transaction, Redwood will be the exclusive financial advisor to the Company going forward and is actively seeking add-on acquisitions in the space.
ArX Mobile is a mobile marketing firm managing text-based mobile messaging campaigns and mobile Web site development for blue-chip international consumer brands, mHealth initiatives, political candidates, advocacy and non-profit organizations, and higher education institutions. ArX Mobile’s award winning mobile marketing platform offers leading edge capabilities and can be deployed on either a turnkey or customized basis. ArX Mobile provides a variety of campaign tools including voting, polling, sweepstakes, coupons, alerts, and reminders as well as detailed analytics capabilities all backed by skilled end-to-end customer service. ArX Mobile serves a prominent portfolio of clients that includes AT&T, Avis/Budget, BET, CBS, D.C. United, Disney, Georgetown University, Johnson & Johnson, MTV, and Viacom.
ArX Mobile will be led by Phil Sweatman, a successful and seasoned industry veteran from the wireless data services and mobile marketing space. Sweatman’s previous role was CEO of InphoMatch (later Mobile 365), a mobile data leader acquired by Sybase in 2006 for $417 million. Sweatman has also served as CEO of Triverity and CFO of Telogy Networks which was acquired by Texas Instruments for $673 million.
Nathan Johnson, Managing Partner of Redwood Capital and Head of Redwood’s Restructuring Practice, commented: “ArX Mobile will continue the tradition of providing cutting edge mobile marketing and messaging services to the business, nonprofit and political verticals it serves. The effort to restructure the predecessor company was fraught with complications and fortunately we were able to keep the business from filing for bankruptcy protection, bring in a very talented new CEO, and recapitalize ArX Mobile.”
“Redwood Capital did a terrific job of helping us manage the transition in management and recapitalizing this company under very difficult time constraints”, added Phil Sweatman, CEO of ArX Mobile. “Redwood’s ability to sort through the complexities of this deal rapidly and help us control the transaction while securing capital is the reason ArX Mobile is on the path to success.”
About Arx Mobile, Inc.
ArX Mobile is a mobile marketing firm managing text-based mobile messaging campaigns and mobile Website development for blue-chip international consumer brands, mHealth initiatives, political candidates, advocacy and non-profit organizations, and higher education institutions. ArX Mobile is headquartered in McLean, Virginia with offices in Washington, D.C. and Los Angeles.
For more information, please visit www.arxmobile.com
About Drake Star Partners
Drake Star Partners is a global investment banking firm serving the technology, media and communications sectors (TMC) with offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, Geneva, Singapore* and Dubai*. The firm focuses on M&A and corporate finance for its clients worldwide. Drake Star Partners completed over 400 transactions since 2004, 70% of which are cross-border.
Drake Star Partners is the marketing name for the global investment bank Drake Star Partners Limited and its subsidiaries and affiliates. In the USA, all securities are transacted through Drake Star Securities LLC. In the USA, Drake Star Securities LLC is regulated by FINRA and is a member of SIPC. Drake Star UK Limited (FRN 942020) is an appointed representative of Kession Capital Ltd (FRN582160) which is authorised and regulated by the Financial Conduct Authority. © 2016 Drake Star Partners Limited.