Buongiorno Vitaminic SpA one of the leading European companies in the design, production and/or aggregation and distribution of multimedia content via e-mail and telephony services, finalized an agreement for the purchase of a 95.1% stake in Gsmbox SpA, one of the leading mobile media companies in Italy and Spain, leader in interaction and TV participation segment.
Gsmbox SpA holds the 55% of the share capital of Gsmbox España S.A., a company jointly held by Telecinco with a 45% stake, and holds a 50% stake in Endemol-Gsmbox SpA, a recently established joint venture with Endemol Finance BV.
"The acquisition of a controlling stake in Gsmbox fits in with our strategy of rapid growth in the industry of mobile value added services. Following this transaction, we consolidate our leadership position in Europe and we are strengthening our No.1 ranking in Italy and our position as co-leader in Spain. In addition, the know-how and partnerships gained over the years by Gsmbox in the area of interaction and TV participation will allow our Group to increase penetration in one of the highest potential segments of the mobile value added services. Gsmbox has a wide experience in this area, as demonstrated by its high-profile partnerships in the media industry with companies such as Endemol, Mediaset/RTI, and Telecinco. We are truly pleased that Federico Bolondi, Gianmauro Calafiore, and the top-rate Gsmbox team will join our group," said Andrea Casalini, CEO for Buongiorno Vitaminic SpA.
"The market in which we operate is growing rapidly, and has a lot to offer in the years to come in terms of growth for companies that are able to reach truly international dimensions. To compete at the highest level, you need to develop high-profile skills, sophisticated technology, and an extensive content portfolio. This is only possible through mergers and partnerships that make it possible to integrate complementary skills and know-how and to set ambitious goals. Our decision to join Buongiorno Vitaminic group, which is one of the best positioned in Europe to take advantage of the growth potential the market has to offer, will make it possible to play an even more significant role in the European market of value added services," said Federico Bolondi, CEO of Gsmbox SpA.
In 2003, Gsmbox posted total revenues of Euro 12.5 million, EBITDA of Euro 0.9 million, and generated cash for more than Euro 1 million. The group currently employs about 25 people.