(sub. req.) For-Side.com, one of the biggest Japanese mobile content companies, which recently bought out two U.S. based mobile content companies (Vindigo and Zingy), has bought out UK/European biggie iTouch in a deal valuing at 180m GBP ($344m). For-side.com, which already owns 4.5 per cent of iTouch, said it was offering 44p per share to buy the remaining 95.5 per cent.
iTouch has made seven acquisitions since 2000, including the mobile entertainment unit of Finland’s Saunalahti last August, which more than doubled the company’sreach to more than 25 countries.
The deal will also provide a cash boost to Independent News and Media. The Irish group (which also own UK paper Independent) said it would sell its 37 per cent stake in iTouch to For-side.com for about Euro 100m ($129m) and would achieve a return of more than 300 per cent on its original cash investment.
Some more details in this press release…
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