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February 23, 2007
Boungiorno On A Buying Spree To Grow Mobile Portfolio
Moconews drew our attention to Boungiorno's ongoing small-ticket acquisition spree, with the news that the Italian mobile content and distribution platform company had acquired Dutch mobile marketing company HotSMS for €4.3M.
That prompted us to take a look at it what it's been up to. Buongiorno, whose market cap is €335M (about a quarter of the company still belongs to founder Mauro Del Rio) made its first big acquisition when it bought Italian music download provider Vitaminic, a high-flier of the European bubble era.
And since then acquired European businesses such as GSMbox, Freever, DioraNews, as well as forming a JV with Mitsui to reach the Russian and East Asian market. Last year it bought Calif-based RocketMobile for $17M.
This year, in addition to the HotSMS deal, it also acquired Inventa for $2M and Chinese eDonga for $2.7M.
Boungiorno is making these moves in order to become a "digital marketing services" leader and add know-how for mobile video, that means the firm will not only deliver content but also SMS and MMS-based marketing services to a global market.
It is certainly not overpaying to make that strategic move. It will be interesting to see the results over time. It does about €192M in annuals sales, right now.
Read - Buongiorno Buys Dutch Mobile Ad Firm (moconews)
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Posted on February 23, 2007 05:36 AM | Posted to Wireless | Permalink
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