NTT Docomo is extending its reach in Europe with an offer to buy mobile content platform provider net mobile.
The deal is estimated to be worth €41.6 million ($60.7 million). NTT’s German subsidiary Docomo Deutschland is offering €6.35 in cash per share for all outstanding shares of the listed German company, a 34.2% premium over the September 10 closing price.
24% of net mobile’s shareholders and Swisscom, a 15% shareholder, have already agreed to sell their stock, DoCoMo said.
“net mobile's technology and European presence are major plus points for DoCoMo, which is strengthening the foundation of its mobile platform business overseas. DoCoMo believes the close collaborative relationship resulting from this transaction will contribute significantly to growth at both companies,” vice president Masatoshi Suzuki said.
net mobile reported revenue of €20.76 million ($30.3 million) for Q1, up 54% . The strong performance was based on the acquisition last year of Switzerland-based mobile apps developer Minick. Due to the acquisition of Mincik, the company saw its revenues grow by 10%, driven by carrier revenues and mobile payment revenues.
The company offers its net-m maxmedia platform to European carrier and broadcaster clients, enabling them to deliver multimedia content through mobile and internet portals.
It also provides interactive services, including mobile transport services that enable users to send or receive SMS, MMS, and WAP push messages; and billing services comprising alternative paying methods, such as premium SMS, premium MMS, premium voice call, and Web and WAP-billing, as well as micropayment facilities