Plus SMS Buys Mexican Content Company

New Zealand company Plus SMS has announced that it has bought Content Technology Mexico (CTM) for a combination of “$US1.2 million ($NZ1.8m) cash, and 10 million Plus SMS shares at NZ20c over a two-year period, on the condition CTM met certain performance conditions”. The article claims Plus SMS is struggling to generate revenue and is therefore going for the growth-through-acquisition strategy. “CTM had strategic relationships and contracts with entertainment and music companies such as SonyBMG, EMI, Universal, and Warner…The Mexican company provides services for mobile phone operator Telefonica Movistar, including ring-tones, logos, pictures, and video and music clips.”

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