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Acquisition of UpMobile

16th Jun 2014 07:00

InternetQ plc - Acquisition of UpMobile

InternetQ plc - Acquisition of UpMobile

PR Newswire

London, June 16

For immediate release 16 June 2014 INTERNETQ PLC ('InternetQ', the 'Group' or the 'Company') Acquisition of UpMobile Dynamic entry of InternetQ in Mexico, one of Latin America's most evolving markets InternetQ plc (LSE-AIM: INTQ), a leading provider of mobile marketing anddigital entertainment solutions for mobile network operators and brands, todayannounces that it has reached an agreement to acquire UpMobile, a mobilemarketing and interactive TV and radio content provider in Mexico. Not only is UpMobile the number one provider of interactive solutions for radiostations, but also provides mobile solutions to media organizations and thepublic sector in Mexico, a market of over 100 million mobile connections and 33million smartphone users currently. Research shows a steady increase in thenumber of smartphone users by 18-20% per year by 2017, according to theindependent research provider Emarketer. This acquisition complements InternetQ's existing presence in Latin America andoffers opportunities for further distribution of the Company'sperformance-based advertising and streaming music services. Strategic Rationale The acquisition of UpMobile is in line with InternetQ's stated strategy ofbroadening its geographical reach whilst further developing its serviceoffering. The key benefits of the acquisition are as follows, it: * Significantly increases InternetQ's existing presence in Latin America following the successful acquisition of Interacel Holdings earlier in the year * Provides InternetQ's entry into Mexico's dynamic market and secures the promotion of its offerings through UpMobile's channels * Builds increased value by capitalizing on the synergies of both companies' clients, services and expertise Panagiotis Dimitropoulos, Chief Executive Officer and Founder of InternetQcommented: "We are delighted to announce the acquisition of UpMobile, which acceleratesour ability to deploy InternetQ's services in the evolving Mexican market andfurther strengthens our growth in Latin America. We have a solid track record of successfully integrating acquisitions. Our goalis to maintain the existing lines and further expand UpMobile's businessthrough InternetQ's product portfolio and knowhow. Mexico is the fastest growing Smartphone market in Latin America and we cantake advantage of exciting new business opportunities for our Akazoo andMinimob platforms in the region." InternetQ will issue a trading update on 15 July 2014. For further details: InternetQ Tel: +44 (0) 20 3519 5250 / +30 (211) 101 1101 Panagiotis Dimitropoulos, Founder and CEO Tel: +30 (697) 811 7520 Veronica Nocetti, Chief Financial Officer Tel: +30 (694) 420 5275 FTI Consulting LLP Charles Palmer / Sophie McMillan / Tracey Bowditch Tel: +44 (0)20 3727 1000 RBC Capital Markets Stephen Foss / Pierre Schreuder Tel: +44 (0)20 7653 4000 Canaccord Genuity Simon Bridges / Emma Gabriel Tel: +44 (0)20 7523 8000 About InternetQ plc: InternetQ is a leading digital content and mobile marketing services companywith operations spanning Asia, Europe, Africa and the Americas. It offersproprietary technology platforms to help mobile network operators, brands, andmedia companies to conduct targeted, interactive and measurable marketinginitiatives on mobile devices. Its mobile value added services include Akazoo,which allows consumers to purchase digital music content, MobiDialog, itsplatform for mobile operators to manage marketing campaigns with predictiveanalytics, and Minimob, a platform providing developers with the most advancedtools to cross-promote and monetize their apps. All underpinning the rapidglobal growth in smart devices and the thriving app economy. InternetQ is a publicly traded company listed on the AIM market of the LondonStock Exchange, under the symbol INTQ. For investor related queries, please email: [email protected]

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