GLOBO acquires 35 percent of ReachFurther Communications to strengthen its position in the mobile market
London, UK – 07 January, 2009 – GLOBO
- Will create a new sales channel for its CitronGO!™ service
- Nikos Giannakakos becomes new Managing Director of ReachFurther Communications
- Takes full management control of ReachFurther Communications
, a leader in e-business solutions and a SaaS solutions provider, has announced that it has acquired a 35 percentequity interest in ReachFurther Communications, an innovative content and turnkey VAS aggregator. The acquisition strengthens GLOBO's strategic position in the VAS arena with a clear focus on mobile. It will create a new sales channel for CitronGO!™ – GLOBO's new breed of open mobile communication software – that will be commercially launched in early 2009. As part of the agreement GLOBO will take full management control of ReachFurther Communications.
GLOBO selected ReachFurther Communications for its proven expertise in VAS development, especially in multimedia-rich content networks with leading mobile and fixed service operators, such as Vodafone, WIND, CYTA and OTE. ReachFurther Communications employs a number of state-of-the-art technologies to offer a product portfolio which includes music, videos, mobile TV, mobile marketing, wallpapers, screensavers, thematic browsable content WAP sites, MMS content, multimedia applications, games, streaming and IPTV services. ReachFurther Communications will offer CitronGO!™ through its own sales and distribution channels with mobile and fixed operators in order to promote a rapid service uptake.
"When we saw what GLOBO was planning, we realised that it was offering a mobile communication service that would actually work, rather than just more hype," said John Sfinias, Founder and CEO of ReachFurther Communications. "With key telecom industry players joining forces to facilitate the evolution of mobile communication towards rich communication, we believe that CitronGO!™ and GLOBO can play an essential part in these developments."
Collaboration between GLOBO and ReachFurther Communications will enable the Group to use convergent technologies – mobile and fixed line – to extend content delivery, based on existing agreements, using the SaaS business model.
As the new Managing Director of ReachFurther Communications, Nikos Giannakakos, added: "The acquisition enables us to provide a number of services to make mobile communications truly multimedia-rich. And this whilst supporting, aggregating and integrating a variety of protocols and applications to enable easy integration between service providers, network operators and manufacturers."
Costis Papadimitrakopoulos, Founder and CEO of GLOBO, concluded: "GLOBO is heavily committed to expanding the capabilities of CitronGO!™ to consumers, operators and mobile phone manufacturers alike. This latest strategic partnership will significantly enhance our service offering and we look forward to working with ReachFurther Communications as this partnership develops."
CitronGO!™ seeks to redefine mobility in communication by uniquely integrating communication and social networking services onto a single screen of a device (mobile handset, PDA, or PC) to cover personal and professional daily needs.
About ReachFurther Communications
ReachFurther Communications Ltd. was established in 2004 by a team of telecommunications professionals with a multi-year experience in the field of management & advisory of telecommunications operators in selected European & Middle Eastern countries. ReachFurther Communications is a content /service aggregator/enabler with an extensive content/service portfolio that caters to the entire mobile and fixed telecommunications markets.
About GLOBO plc
GLOBO plc was admitted to AIM in December 2007 (LSE-AIM: GBO). Founded in 1997 by Konstantinos Papadimitrakopoulos and headquartered in Halandri, Athens, GLOBO has established itself as one of the market leaders in the European ICT market. It provides e-business and telecom software products and related services to both the private and governmental sectors. GLOBO has also developed and operates broadband wired and wireless networks. This activity has led it to become one of the largest e-business software and S.a.a.S. vendors in Greece. For further information please go to www.GLOBOplc.com or contact:
IBA – PR for GLOBO
Tel: +44(0)1780 721433
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