UK listed mobile content provider iTouch announced the acquisition of Movilisto, a Spanish and Portuguese premium-rate SMS service, for up to Euro 60 million.
The acquisition of Movilisto will accelerate iTouch's international expansion and enable the business to become one of the leading pan-European providers of premium SMS services through further development of the strong market position, excellent cash generative finances, experienced management team and cross-selling opportunities.
ARC Associates ("ARC"), a specialist investment banking and advisory firm to the TMT, financial services and property sectors, acted as a financial advisor to iTouch in this transaction. Describing ARC's involvement, Peter Tahany commented, "ARC provided both investment banking advice and original technology market analysis in structuring this transaction. This capability to manage a cross border deal for a UK public company client was fundamental to the successful completion of this acquisition" which represented a quantum step to the client's business model.
iTouch works within all areas of the wireless market, from content aggregation and creation, to complete turnkey solutions for media companies, corporates, fixed-wire Internet portals and network operators. Their clients include media companies, FMCG brands, marketing service agencies, retailers, Internet portals, network operators and enterprises.
Movilisto was founded in April 2001 and its principal revenue stream is generated by charging for services and content provided via mobile messaging. At present, Movilisto provides a wide range of branded content and services to end consumers by promoting its associated four digit short codes.
ARC Associates is a specialist investment banking and advisory firm to the telecommunications, media, technology, financial services and property sectors.
Contact:
Peter Tahany, Director
ARC Associates
+ 44 (0) 20 7614 4000