NTT DoCoMo is looking to acquire Italy-based web and mobile apps developer Buongiorno, in a move to shore up its position in the European market and beyond.
The Japanese cellco has launched a tender offer for all Buongiorno shares through its DoCoMo Deutschland subsidiary, after agreeing a deal with Mauro Del Rio covering his 20% stake in the development outfit. The carrier has placed a maximum value of €224 million on the acquisition, which values each common share in Buongiorno at around €2 each.
DoCoMo claims the acquisition will strengthen its overseas mobile platform business, by combining Buongiorno’s expertise in developing and managing paid apps and services with the cellco’s current mobile business. The app firm has built a base of two billion customers in 57 countries since its formation in 1999, and last year generated an operating profit of €7 million on sales of €228.6 million.