CRE8 Acquires Brazilian Content Provider Mobile Development.CRE CRE Commercial Real Estate CRE Corporate Real Estate CRE Commission for Racial Equality (Scotland) CRE CCD (Charge Coupled Device) and Readout Electronics CRE Camp Response Element 8 Solidifies Position as the Leading Content Provider for Mobile Entertainment throughout Latin America CHRISTCHURCH, New Zealand -- CRE8 (NZAX NZAX New Zealand Alternative Market (Wellington, New Zealand) :PLS See playlist. ) announced today the acquisition of Mobile Development Limitada (MDEV MDEV Mobile Development Limitada MDEV MacTCP Device (Apple Open Transport) ), a company that specializes in the production and distribution of content services to mobile operators and corporations in Brazil. Based in Florianopolis with offices in Sao Paolo and Rio de Janeiro Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē`  thĭ zhənĕē`r MDEV is one of the fastest-growing companies in the region focused on
the creation and distribution of mobile entertainment, employing some 40
people.
MDEV is a recognized industry leader in the development, testing and distribution of Java, Symbian and BREW games and a trusted business partner of Vivo (Telefonica), Brasil Telecom, Claro (America Movil), Oi, Telemig Cel and Teleamazon Cel for the management of mobile content. In addition to its content offering, MDEV has been selected by one of the world's leading software corporations to rollout mobile interactive services throughout Latin America. Additional information regarding this partnership will be released to the market in the coming months. Brazil is a significant emerging market ranking as the fifth largest country in the world by size and population, and has over 100 million mobile subscribers. The acquisition of MDEV is a key step in company's service evolution, extending CRE8's capabilities, content portfolio and reach throughout Latin America. Under the terms of the agreement, MDEV will operate as a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CRE8, with CRE8 acquiring all of the equity in return for cash and share consideration. The acquisition is expected to have a positive material impact to CRE8's revenue and earnings. "Through this acquisition, we will deliver enormous long term value to our shareholders by creating a business that is uniquely positioned to provide customers with the ability to reach over 200 million mobile subscribers throughout Latin America," said Christopher Tiensch, Chief Executive Officer of CRE8. "Mr Valber Bittencourt, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of MDEV and the management team have built a world class organization and unrivalled leadership position in the Brazilian market." "The acquisition of MDEV represents an important continuation of CRE8's successful expansion into Latin America and will allow us to be even more effective in delivering high quality, leading edge solutions into the hands of satisfied customers," said Nicolas Barrera Rios, CRE8's General Manager in Latin America. About CRE8 CRE8 (NZAX:PLS) is a leading provider of content, connectivity and network services for mobile operators, brands and media companies worldwide. CRE8 is a subsidiary company of Plus SMS (1) (Storage Management System) Software used to routinely back up and archive files. See HSM. (2) (Systems Management Server) Systems management software from Microsoft that runs on Windows NT Server. Holdings Limited. For more information visit: http://www.cre-eight.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion