Acquisition of Cyoshi Mobile

20 Apr 2006 07:01

Mobile Streams plc20 April 2006 20 April 2006 Mobile Streams acquires Cyoshi Mobile to expand European mobile video contentand distribution Mobile Streams Plc, ("Mobile Streams" or "the Company"), the mobile mediaspecialist, announces the acquisition of Cyoshi Mobile GmbH ("Cyoshi") for atotal consideration of €3m to be paid €2m in cash and €1 in Mobile Streamsshares. Based in Germany, Cyoshi is a leading independent producer anddistributor of mobile media - especially video content - across Europe. Theacquisition will strengthen Mobile Streams' footprint across mainland Europe andprovide them with direct access to exclusive mobile content. Cyoshi Mobile, which was formed as a subsidiary of the television and filmproduction company Cyoshi Crucial GmbH, develops, licenses, produces, aggregatesand distributes branded content and applications for wireless devices and is aleader in the field of made-for-mobile content production. The company offerspremium content and solutions that specifically address the requirements of theemerging mobile video and mobile TV market. Cyoshi has pioneered the introduction of short-form animated cartoon contentthat has proven to be highly popular on mobile phones, and successfully took thecult internet series "Happy Tree Friends" onto mobile. Its portfolio ofexclusive content includes other cartoon shows such as "Suicidal Squirrels" and"Joe Cartoon". Furthermore, Cyoshi Mobile has exclusive rights for mainland Europeandistribution of the Australia based mobile community FunkySexyCool ("FSC").Labelled "the largest party on your mobile", FSC is a unique viral communityconcept which combines elements such as live chat, messaging, photo and videoprofiles with a unique voting system. Cyoshi Mobile also has licensed rights tothe Holy Bible scriptures for mobile content in 22 languages. The applicationallows mobile phone users the choice between linear reading and targetedsections from both the Old and the New Testament. Cyoshi Mobile has a strong distribution network throughout Europe, includingexisting direct relationships with Vodafone, T-Mobile, Hutchison 3G, andnumerous other operators to supply content throughout Eastern and WesternEurope. This acquisition reaffirms Mobile Streams' stated goals during its recentlisting in London to enhance its portfolio of exclusive content and develop itsinternational presence in selected markets. The three founding members of Cyoshi Mobile GmbH - Christoph Reisner, ArndAschentrup and Steffen Heisterberg - will continue to run the business withinMobile Streams. Christoph will become EVP Mobile Streams Europe, whilst Arnd andSteffen will remain in senior roles responsible for finance and content. CyoshiMobile will be renamed Mobile Streams Europe and will be responsible for allMobile Streams' business in mainland Europe, Africa and the Middle East. Cyoshi will immediately commence powering their business using Mobile Streams'Vuesia platform. Simon Buckingham, Mobile Streams CEO said: "This complementary acquisitionaccelerates our strategy in several important ways - it extends our operatordistribution footprint from the UK across both continental and Eastern Europewhile also accelerating our content strategy by adding compelling licensedcontent." Buckingham added, "Cyoshi's content and TV production background will alsostrengthen Mobile Streams' leadership in the fast growing mobile video sector ofthe mobile media market. Most importantly, the Cyoshi employees share ourexcitement for the sector and I look forward to working with them all as we growour businesses together." Christoph Reisner, Cyoshi, said: "We are delighted to join Mobile Streams'fast-growing portfolio and to have found like-minded entrepreneurs in thewireless industry. We look forward to creating more lively content to entertainmobile users throughout Europe." DVDs of content are available on request. Enquiries Mobile StreamsSimon BuckinghamJitesh Sodha Cyoshi MobileChristoph ReisnerNadine Brokmann +49 511 590909 24 Brunswick GroupLaura Cummings/Dominic McMullan +44 207 404 5959 About Mobile Streams Mobile Streams is a leading provider of music, comedy, sport and entertainment content on mobile devices, supplied to mobile phone networks globally including Vodafone and 3 in the UK, America Movil, Movistar & TIM in Latin America, Fido & Rogers in Canada and Dobson in the US. The Company creates, licenses and delivers quality content to Mobile Network Operators (MNOs) and consumers in the form of ringtones, graphics, video clips and other products. It has developed relationships with both content owners and MNOs which enable it to act as an intermediary, providing an end-to-end service encompassing a broad range of elements from content licensing to content production, account management and channel management. "Vuesia" is Mobile Streams' full service enterprise mobile media management solution. "Vuesia" facilitates content ingestion, management, delivery, billing and reporting. Mobile Streams has subsidiaries in the US, Argentina, Brazil, Mexico, Chile and Colombia and has approximately 80 employees. For more information please go to www.mobilestreams.com About Cyoshi Mobile Cyoshi Mobile GmbH, a subsidiary of Cyoshi Crucial GmbH, is a leading Europeanprovider of Mobile Entertainment. Cyoshi Mobile develops, licenses, produces,aggregates and distributes the complete spectrum of content and applications forwireless devices. The company acts as the mobile distribution partner of choicefor globally renowned content brands. For more information please visit thecompany's website at www.cyoshimobile.com. This information is provided by RNS The company news service from the London Stock Exchange