Smartphone maker Lava acquires Panama-based handsets brand B Mobile for $50-M

Lava International - which is gearing up for an initial public offering (IPO) - has acquired Panama-based handsets brand B Mobile for about USD 50 million (INR 375 crore). The move to acquire an international devices company and the licensing agreement is intended to establish better control over its supply chain in terms of pricing. B Mobile, owned by China Bird CentroAmerica, sells 20 different products including feature phones, smartphones and other wireless devices in the Latin American market through a distribution network consisting of mobile carriers, retailers and local distributors.