Eposs acquires Ringtones Online in cash deal
LONDON - Eposs, the Cambridge-based electronic payment firm, has acquired Ringtones Online for an undisclosed sum.
The move will further broaden the range of mobile product categories that Eposs can offer its retail customers.
The Leeds-based Ringtones Online specialises in providing business-to-business mobile application and entertainment content. It offers a wide range of value-added mobile services including ringtones, logos, MMS, java games and SMS alerts.
Eposs currently provides systems that allow retailers to sell a range of electronic products, including airtime for pre-pay mobile phones and mobile content. Eposs's range includes E-Voucher, an advanced method of enabling retailers to sell instant top-ups of mobile phone airtime via a PIN number-based format.
Michael Norton, chief executive of Eposs, said: "The acquisition of Ringtones Online is a key move in broadening the range of product categories that we offer to our customers. With the explosive growth seen in the mobile content market, both in the UK and internationally, it is essential that we continue to invest in providing new and innovative products that will deliver real added value to our customers."
Ringtones Online's major clients include Emap, Pepsi, O2, IPC Media, Capital Radio and interactive TV shows such as 'Pop Stars' and 'Big Brother', among others.
The company has grown consistently since it was established in 2000 and currently generates some 500,000 downloads a month. This figure is expected to double by Christmas -- generating a gross sales value of more than £18m in 2003.
Ringtones Online will become part of the Eposs group of companies, but will continue to operate separately.
Andy Mills, managing director of Ringtones Online, said: "This acquisition provides us with a unique opportunity to offer new and existing clients additional routes to market as well as continuing to build on our existing platforms. The combined market share and distribution opportunities created by this move will provide a compelling solution for any content owners who are serious about mobile media, both locally and globally."
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