MegaFon has acquired 100% of the shares in Felebior Holdings Ltd, the parent company of the VAS Media Group, which supplies multi-media content, ring tones, geo-positioning services, mobile payments and other VAS services.
Consolidated EBITDA of the VAS Media Group amounted to 933 million rubles for the first half of 2012.
«We believe that the acquisition of the VAS Media Group is an important step in our strategy to develop new services in the promising VAS market. Before the acquisition, the VAS Media Group was already a partner of MegaLabs, one of our wholly-owned subsidiaries, on a variety of projects, and we plan to fully integrate the newly acquired assets into MegaLabs in the near future. We believe that the synergies between the VAS Media Group and MegaLabs will help MegaLabs to become a more competitive player in the promising VAS market» — said Ivan Tavrin, CEO of MegaFon.
«The integration of Felebior Holdings Ltd assets into MegaLabs provides an opportunity for our group not only to strengthen its position in the adjacent markets, but also to enrich its team with professionals who can rapidly assist with the ambitious task of bringing new high-tech services to the market” — said Oleg Butenko, CEO of MegaLabs.
Source: Megafon press release