Buongiorno acquires eDongAsia for $2.7M

Digital entertainment multinational Buongiorno acquired mobile content production services provider eDongAsia in an effort to gain a foothold in the Chinese market. Under the terms of the deal, Buongiorno Hong Kong (a joint venture with trading and investment firm Mitsui & Co.) will acquire up to 80 percent of eDongAsia's share capital in a $2.7 million cash transaction; the remaining 20 percent of the firm will remain under shareholder control. Bongiorno said its Chinese plans include B2B services for telecom firms and large media groups as well as B2C services marketed under its Blinko brand. "The Chinese mobile content market is burgeoning and it represents a tremendous opportunity for global companies operating in the digital entertainment market," Buongiorno CEO Andrea Casalini said in a prepared statement. "We therefore decided to cautiously enter the Chinese market by leveraging on a small-sized, fast-growing entity in which our joint venture Buongiorno Hong Kong will invest in terms of know-how, people and capitals."

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