For-side.com Invests in iTouch
For-side.com U.K., a wholly owned subsidiary of For-side.com of Japan, announced August 9 that it will invest 8 million Euros ($9.8mil) in London-based leading content provider iTouch in mid-August in order to further accelerate its business globalization effort. For-side.com U.K. will own a 4.5% stake in iTouch. With For-side.com’s financial support, the UK partner plans to acquire Jippii, the leading content provider that mainly operates in Russia, to expand its service offerings in Europe.
iTouch is currently offering a wide variety of mobile content services in Europe, South Africa, and Australia, and generated sales of 12.5 billion yen ($112.6mil) in the mobile content business in fiscal 2003. According to Corporate Finance Partners, the mobile content market in Europe is expected to grow 133.2% to 446.8 billion yen ($4.03bil) between 2003 and 2006. Via: Japan Corporate News Network