France’s Jet Multimedia Acquires Poland’s Avantis For $11.4 Million

France-based mobile content developer Jet Multimedia group has acquired 100 percent of the capital of Avantis, the leading mobile content provider of Poland. The deal has valued Avantis at 35 million PLN ($11.4 million), which will be made in cash as earn-out payments within the limit of 40 million PLN ($13 million), says a release.
The acquisition will help Jet Multimedia gain access to Eastern Europe, a fast-growing market. Avantis was founded in 2000, and became a major player in Poland which has 30 million subscribers. Avantis had revenues of 30 million PLN ($9.8 million) and an operating profitability of 20% in 2005.
Jet Multimedia continues its strategy of international deployment. It already has presence in Europe (France, Spain, Italy), North Africa (Morocco, Tunisia) and American continent (Canada, Argentina). [Via Release]

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