Japanese mobile operator, NTT DoCoMo, is making a play at the Italian firm Buongiorno, a mobile content provider that boasts two billion customers across 57 countries. The €224 million offer must still be approved by Italian regulators, and would reflect a purchase price of €2 per share for the entirety of Buongiorno's outstanding stock. For its part, NTT DoCoMo hopes the buyout will help bolster its reach outside the home country of Japan, although the purchase is a bit of a gamble just the same. As it stands, Buongiorno's annual operating profit hovers in the neighborhood of €7 million, which means DoCoMo may be in for a bit of a wait before this deal bears fruit. You'll find the nitty gritty details in the PR after the break.
[Raining money photo via Shutterstock]
Continue reading NTT DoCoMo hopes to expand content game with Buongiorno buyout
NTT DoCoMo hopes to expand content game with Buongiorno buyout originally appeared on Engadget on Wed, 16 May 2012 03:43:00 EDT. Please see our terms for use of feeds.
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