NTT Docomo, the Japanese mobile carrier, has issued a tender off to buy Buongiorno, an Italian mobile content company, for up to ¥24 billion ($300 million), in an effort to further expand outside of its country of origin.
The acquisition would be made by the company’s Germany-based subsidiary, Docomo Deutschland. Mauro del Rio, Buongiorno’s majority shareholder and chairman who owns 20 percent of Buongiorno’s stock, has already agreed to sell his portion to NTT Docomo. His stock is the equivalent of 111,888,895 shares.
“The acquisition will combine DOCOMO’s innovative mobile business and services know-how in Japan and other countries with Buongiorno’s advanced mobile technologies and extensive global customer base,” DOCOMO said in a statement. “As part of expanding the businesses of both companies, DOCOMO expects to strengthen the foundation of its mobile platform businesses overseas.”
Founded in 1999, Buongiorno remains one of the oldest mobile content providers, and reported revenues last year of €228.6 million (¥24.52 billion; $295 million) and operating profit of €7 million (¥7.5 billion; $9 million). The company has 2 billion customers in 57 countries in four continents.
It carries an expansive list of gaming, music, ringtones and wallpaper through partnerships it holds with a large number of carriers.
DOCOMO will begin its tender offer share at €2 per share for 25 days.