14 DAY TRIAL // Mobile Streams announced that it has reached agreement to acquire the mobile entertainment group Mobilemode. Founded in 1999, Mobilemode delivers mobile entertainment content and services to mobile phone operators and portals in the Asia Pacific region.
The acquisition of Mobilemode will give Mobile Streams a comprehensive position in Asia Pacific, with a particularly strong focus on Australia, New Zealand, Malaysia, Singapore and Hong Kong. In addition, the acquisition will offer Mobile Streams the immediate benefit of Mobilemode's experienced management team, and their strong relationships with portals and mobile network operators.
Mobilemode's key network operator customers are SingTel-Optus, Virgin Mobile and Hutchison 3G in Australia, SingTel and M1 in Singapore and Maxis and Astro in Malaysia. Mobilemode also has strong distribution relationships with eBay, Electronic Arts, Nokia and Discovery Networks, an affiliate of Liberty Media, Mobile Streams' strategic investor.
Mobilemode's management team has worked in Asia for many years and will be invaluable in supplementing Mobile Streams' existing business in the region. The two founding members of Mobilemode, Jarno Salmivuori, CEO and Norma Salmivuori, Vice President Business Development, will assume management positions within Mobile Streams' Asia Pacific business unit.
Commenting on the announcement, Simon Buckingham, CEO of Mobile Streams said: "This acquisition represents a key milestone in the development of Mobile Streams' global footprint. Mobilemode will provide us with an excellent stepping stone into the advanced markets of Australia, New Zealand, Hong Kong and Singapore whilst at the same time providing a platform for growth in the emerging markets of Taiwan, Indonesia and the Philippines."
Jarno Salmivuori, CEO of Mobilemode said: "Mobilemode has established strong relationships and operations in Asia which we look forward to developing and growing further through the combination with Mobile Streams."