Home Strategy Mobile Monster munches Gadget Exchange

Mobile Monster munches Gadget Exchange

Pre-loved mobile merchant Mobile Monster has acquired rival Gadget Exchange.

Mobile Monster - which claims to offer premium prices for secondhand smartphones - has acquired Gadget Exchange, another company operating in the same space.

According to Monster Mobile founder and CEO Tim Duggal, Gadget Exchange's software was a significant part of the attraction.

"We have been in talks with Gadget Exchange for a long time. In acquiring their key assets we have a great ability to not only leverage our existing trading base, but more importantly, we will significantly improve our backend capabilities.

"Gadget Exchange has developed great software, most notably its retail trade-in platform and pricing matrix."

He added “Working on this acquisition with Gadget Exchange has been a real eye opener. They have chosen to focus on software innovation. Their business case and new venture is one of the most compelling opportunities I have come across.

"Certainly, this acquisition solidifies our relationship with them. We are hopeful of continuing an alignment once they formally launch their new venture.”

The value of the transaction was not disclosed.

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.