Brazilian mobile content provider acquired by CRE8.
TELECOMWORLDWIRE-23 March 2007-Brazilian mobile content provider acquired by CRE8(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
CRE8 (NZAX:PLS), a New Zealand-based provider of content, connectivity and network services, has made an acquisition in Brazil.
The company has acquired Mobile Development Limitada (MDEV), which specialises in the production and distribution of content services to mobile operators and corporations in Brazil. MDEV currently has mobile content deals with Vivo (Telefonica), Brasil Telecom, Claro (America Movil), Oi, Telemig Cel and Teleamazon Cel.
Under the terms of the acquisition agreement CRE8 is acquiring all equity in MDEV in return for a consideration paid in cash and shares. Financial details were not provided, but CRE8 said that it expects the acquisition to have a positive material impact on its revenue and earnings.
Following the acquisition MDEV will operate as a wholly owned subsidiary of CRE8.
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|Date:||Mar 23, 2007|
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