Terra Mobile, a recently formed joint venture of Telefónica Móviles SA and Terra Networks SA, Tuesday announced that it has acquired Iobox, a privately-held mobile portal and content start-up, for $216 million.
The acquisition is part of a plan to make Terra Mobile a leading mobile portal provider, the company said. Telefónica Móviles, the wholly-owned mobile phone unit of Telefónica SA owns 51% of Terra Mobile, which was formed on July 18, with Terra Networks owning a 49% stake.
Iobox was founded in Helsinki in January 1999, its corporate headquarters are in London. The company has 100 staff, and also has operations in Germany and Sweden.
Telefónica, in Madrid, can be reached at 34-91-584-4700, or at www.telefonica.com/. Iobox, in London, can be contacted at +44-20-7798-6900, or at www.ioboxgroup.com/.
RELATED LINKS
