Israel’s mobile multimedia and advertising solutions company Mobixell Networks announced the acquisition of US-based mobile Internet company 724 Solutions, in mid-January.

While Mobixell did not provide financial details, industry estimates say the deal is worth $20-30 million, with a few million dollars being paid in cash and the rest in shares, according to Globes, Israel’s leading financial daily.

The merged company will create a global organization with local sales and support capability in the US, UK, China, Switzerland, India, Israel and other countries, with a customer base of more than 350 mobile operators worldwide.

In early 2007, Mobixell bought Adamind from the Emblaze group for $5.5 million.

Mobixell was founded in 2000 by CEO Amir Aharoni and CTO Yehuda Elmaliach. Aharoni says the expanded company will focus on delivering rich media mobile internet and messaging solutions for mobile operators.

Among the two companies’ hundreds of customers are many tier-1 mobile operators in Europe, North America and APAC, such as Verizon Wireless, Vodafone, Orange, Swisscom, Turkcell and AIS. The combined company intends to continue to partner with its strong OEM channels and system integrators that include IBM, Motorola, Alcatel-Lucent, NSN, Huawei, Ericsson and Comverse.

So far, Mobixell has raised $29 million from Apax Europe, Intel Capital, SMAC Partners and Comverse, which still has a small stake.