21st Mar 2006 07:00
Stream Group PLC21 March 2006 Stream Group plc 21 March 2006 Stream Group plc ('Stream' or 'the Group') Stream expands chat operations in USA and South America Stream Group Plc, the mobile applications and content enabler, has todayacquired the whole of the issued share capital of Pan American Mobile Inc.('PAM'), for a maximum total consideration of $4.4m. The consideration, all ofwhich is deferred, is payable, in cash and/or Stream shares, subject to theachievement of profit targets in the three years to 31 March 2009. Stream has stated its intention to expand its chat and dating products in the USfollowing last years experience of running chat for American Idol. Theacquisition of PAM will enable Stream to drive forward its chat and datingbusiness in the US and South America. PAM, a US company registered in New York, is a recently established businesswith a management team experienced in fixed-line premium rate services and witha sound knowledge of executing successful marketing campaigns in both the US andSouth America. This acquisition combines Stream's extensive technical andoperational chat experience, having run Vodafone's chat in the UK since 2002,with PAM's proven local marketing expertise. Gordon Robson, Executive Chairman of Stream, commented: "This acquisition is line with our strategy of expanding our chat and datingbusiness and brings Stream a low risk entry to key markets with high volumepotential. We had maintained a watching brief on the US mobile market, and cannow see positive signs that its potential will be realised." Kevin Goodman, CEO of Pan American Mobile Inc. commented: "This is a great opportunity for PAM, with Stream's backing, to expand its chatand dating business in the US and South American markets." Notes for Editors: Stream was established in 2000 to develop and sell mass-market entertainment andinformation products. Our portfolio of products is marketed in the UK andinternationally through partners and direct to consumers - delivered via mobile(data) and fixed line (voice) telephony. Our approach to the development and distribution of products is based upon the20 years' experience that the Group's management team has in creating successfultelephone businesses around the world. Stream Group plc currently comprises three main businesses that encompass mobile(data) services, voice services and telecoms services: Stream Mobile: Stream Mobile is a leading player in leading-edge mobile serviceprovision, developing its own cutting edge interactive mobile services andoffering these on a global scale to its customers and the ever-growing communityof mobile phone users. Stream Mobile currently works with major media brands and customers in a numberof regions, including Vodafone, Singtel, Win and Oplayo. It also owns andoperates the mobile portal www.go82020.com. Stream Live Services: Stream Live Services operates live and pre-recordedadvice, chat and information services. Stream's proprietary Virtual Call Management System (VCMS) is at the heart ofadvice services. Consumers can use their telephone, the Internet, or acombination of the two to search for the consultant of their choice forimmediate, live advice over the telephone. www.thecircle.com is an innovative web site that integrates service deliverybetween the internet and telephone. The site offers an interface between the website and Stream's Virtual Call Management System (VCMS) that enables consumersto view availability of the specialist consultants and then book for advice overthe telephone there and then. Talk Telecom: Carries call traffic for the Group. Talk Telecom operates under anISVR licence issued by the Department of Trade and Industry. Enquiries: Stream Group plcGordon Robson, Executive Chairman Tel: 020 7299 2880 Flagship GroupToby Mitchenall Tel: 020 7886 8459 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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