MELBOURNE, Australia, June 5 /PRNewswire/ --
In a rare case of an Australian Technology company increasing its reach internationally through the acquisition of a successful European competitor, Jumbuck Entertainment Ltd (ASX: JMB) announced that it has successfully completed the acquisition of German company wap3 Technologies community business, propelling it to the forefront of the global market to become the world's largest mobile community messaging provider.
Jumbuck, with a customer base of over 40 carriers in the USA, UK and South East Asia and approximately 8.5 million users across its services, combined with wap3's client base of 29 carriers, including some of Europe's largest, and with a customer base of 6 million users will create a company with a far reaching global distribution network of 70 carriers with a community in excess of 14.5 million users.
The complementary nature of Jumbuck and wap3's community businesses enables Jumbuck to become the world's largest mobile user-generated content community specialists. Jumbuck's CEO Olivia Hilton commented, "Communities, like networks, are only as powerful as the number of users. Through this acquisition, Jumbuck will be able to offer increased user interaction as consumers have greater access to the world's largest community 24/7. Users will also benefit from access to the combined companies' enhanced service features, leveraging faster 3G networks and handset capabilities."
The global market for mobile phone content is experiencing a period of rapid growth and according to isuppli.com is expected to reach US$43 billion by 2010, up from US$5.2 billion in 2004. Jumbuck is poised to capitalize on this global growth and solidify its market leader position in the even faster growing mobile community space.
The acquisition adds the key markets of Europe and South America to Jumbuck's market reach, establishing the Jumbuck brand as truly global backed up by greater access to new technologies with global operations and the know-how to rapidly deliver the world's best community mobile services to carriers and their end users in a format and language suited to local community standards and market needs.
Under the agreement Jumbuck will acquire a 100% interest in wap3's community business, research and development facility and related investments from wap3 technologies for a purchase price of euro 4.6 million (Approximately AUD$7.7million). wap3's principals have committed to two year management contracts with Jumbuck.
Mr. Holger Jurna, current head of wap3 community business commented, "Jumbuck is a leader in the mobile community sector and has gained a loyal following from carriers and their end users. We share Jumbuck's vision to continually develop and maintain the world's largest mobile communities with a key focus on innovation and the safety of users."
About Jumbuck Entertainment Ltd
Jumbuck Entertainment Limited is an Australian-based mobile content company that focuses on the provision of community based applications to wireless carriers. The Company provides a large community (approximately 8.5 million users across its services) on a 24-7 basis to maximise user interaction and allows integration of carriers globally. Jumbuck also provides carriers with monitoring of chat services to ensure safety of users. Jumbuck deals directly with over 40 carriers in USA, Canada, South America, Europe, Middle East, Australia, New Zealand and Asia. Jumbuck listed on the Australian Stock Exchange in August 2004.
For further information please see our website: http://corporate.jumbuck.com/
Or visit www.asx.com.au
Web site: http://www.jumbuck.com
© 2006 PR Newswire
