Media and entertainment group Primedia has acquired a 50,05% shareholding in Exactmobile, a wireless application service provider and the leading mobile content provider in South Africa.
Primedia said on Thursday that Exactmobile had a strong brand with high recognition amongst the 13-24 demographic and a large national footprint through booklet distribution and WAP portals delivering over 120-million items to nine million customers to date.
Exactmobile operates within the consumer-oriented, mobile content space and is the largest mobile entertainment portal in South Africa, with services in eight other African countries and a content database of over 85 000 local and international items.
The transaction is subject to a number of conditions including Competition Commission approval. – I-Net Bridge