Buongiorno acquires HotSMS

Digital entertainment group Buongiorno announced its acquisition of mobile advertising and marketing firm HotSMS, a £4.3 million cash transaction that will include a non-material earn-out based on 2007 EBITDA. Founded in 2000, HotSMS specializes in permission-based text, MMS and WAP-based advertising campaigns, additionally collaborating with marketing and media agencies to develop mobile commercials, sponsored games and SMS coupons. Clients include Coca-Cola, McDonalds and Universal Music Group.

"The adoption of handsets, the penetration of fast broadband connections and reduced costs will contribute to further accelerating the growth of mobile marketing and the advent of the mobile lifestyle," Buongiorno Group CFO Carlo Frigato said in a prepared statement. "This is the reason why we are now developing our own structure to consolidate our position in the digital marketing business. The acquisition of HotSMS perfectly fits with our strategy to strengthen our marketing services offering and our positioning as an international player."

For more on the agreement:
- read this release

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