Note: Some corrections about this post here.
Jumbuck, the Australian mobile content firm, has expanded into Europe and bought out German mobile community service firm Wap3, for about $6 million.
As a result of Jumbuck’s expansion in Europe, current CEO Adrian Risch will be relocating to Germany to become Managing Director of Jumbuck Community GmbH (Jumbuck’s European operations). His role will be to oversee the newly acquired business and boost Jumbuck’s revenue in the region. Current COO, Olivia Hilton, will become CEO following this acquisition.
Wap3’s majority shareholder/investor was Red Pyramid OOO, a capital company in Novgorod Russia.
Some more info in the release.