|
PMA PMAP PMN
PMA
Primedia acquires a controlling stake in leading mobile content provider
Exactmobile
Primedia Limited
(Incorporated in the Republic of South Africa)
Registration number 1993/003355/06
Share code: PMA & ISIN: ZAE000035119
Share code: PMN & ISIN: ZAE000035127
Share code: PMAP & ISIN: ZAE000080529
("Primedia" or "the Company")
Primedia acquires a controlling stake in leading mobile content provider
Exactmobile
Primedia Limited (Primedia) today announced that it had acquired a 50.05%
shareholding in Exactmobile, a wireless application service provider (WASP) and
the leading mobile content provider in South Africa. Exactmobile has a strong
brand with high recognition amongst the 13-24 demographic and a large national
footprint through booklet distribution and WAP portals delivering over 120
million items to 9 million customers to date.
Primedia CEO William Kirsh commented on the transaction: "In line with our
strategy of increasing the Group"s earnings from content as well as recognising
the enormous potential of the mobile medium, Primedia has identified the mobile
content market as a key strategic focus area. The acquisition of a controlling
stake in Exactmobile will enable Primedia to gain access to a market leading
mobile content distribution channel. It is also an earnings-enhancing
acquisition and a very good cash-generator which has displayed phenomenal growth
over the last five years."
Primedia Content CEO Ferdi Gazendam commented on the transaction: "Exactmobile"s
state of the art technology and experience will allow Primedia to lead the
mobile content market and create tremendous content distribution potential for
the Group across its existing media and content businesses. This acquisition
also improves our ability to retail content to the end user which is critical in
a world where consumers have increasing choice".
Exactmobile CEO Davin Mole says: "Over the past 5 years we believe we have not
only lead the way in the South African mobile content arena by sales, but we
have also led in pioneering new services and being first to market with new
content types. Our strategy has always been to look beyond the short term
generic content market and to focus on licensing and re-selling the richest
content available. This has positioned us to take advantage of not only our own
distribution channels but also those of partners and customers. In Primedia, we
have identified a visionary culture with a similar approach to content
distribution to our own. This exciting deal will allow us to continue to pioneer
new mobile services whilst simultaneously enhancing our content and media
opportunities. We are looking forward to what lies ahead."
Exactmobile operates within the consumer-oriented, mobile content space and is
the largest mobile entertainment portal in South Africa, with services in eight
other African countries and a content database of over 85,000 local and
international items.
The transaction is subject to a number of conditions including Competition
Commission approval.
Sandton
3 August 2006
Sponsor
Investec Bank Limited
Enquiries:
Primedia (Ferdi Gazendam) 011 445 8501
Exactmobile (Fanie Engelbrecht) 082-9405171
Brunswick (Gareth Sharp) 011 268 5750
083 287 3180
Date: 03/08/2006 11:33:11 AM Produced by the JSE SENS Department
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
