MacroSolve Inc. has over 13 experience in the mobile applications marketplace and delivers the bottom-line benefits of mobility to small and medium-sized businesses and governments. The company’s patent-pending mobile app development platform, ReForm XT, is being deployed by a growing number of businesses across a broad array of enterprise uses and vertical markets.
Apps powered by ReForm XT are available on iPhone, BlackBerry, Windows Mobile and will be available on Google’s Android in the fourth quarter of 2010. MacroSolve’s DineInsight and ClubInsight branded mobile business apps, both powered by ReForm XT, serve the needs of the restaurant and hospitality industry; and golf, sports and membership clubs industry, respectively.
The company announced today that it has signed an investment banking agreement with Source Capital Group, Inc. Source Capital’s investment banking division raises capital for high-growth small cap companies in industries including telecommunications. Source Capital invested into MacroSolve because, in the words of MacroSolve’s CEO Clint Parr, “They understand the value of our mobility technologies and our potential to capture a meaningful share of the $5 billion mobile business app market.”
Within the next few years, mobile data subscribers will surpass fixed broadband subscribers. At the same time, the shift of content and applications to the mobile web is accelerating, forcing all sorts of enterprises to integrate mobility into their sales, marketing and operational plans. This is the reasoning behind Source Capital’s investment into MacroSolve. Vik Grover, CFA, who leads telecom and digital media investments at Source Capital, said about the company, “Because it is compliant with all major mobile operating systems, we believe it has the potential to generate substantial revenues from direct and indirect sales and licensing.”