ITOCHU Takes Stake in Affle Holdings Pte. Ltd., a Mobile Content & Advertising Distribution Service Company
February 25, 2010
ITOCHU Corporation (hereinafter “ITOCHU”) announces that it has taken a capital stake in Affle Holdings Pte. Ltd. (Headquartered in Singapore; CEO: Anuj Khanna; hereinafter “Affle”), which provides a mobile content & advertising distribution service.
In cooperation with mobile network operators, Affle provides a content and advertising distribution service using the Short Message Service (SMS) application. To provide this service, it is currently affiliated with ten major mobile network operators in India, Singapore, Thailand, Indonesia and Malaysia. In India, one of its key markets, the number of mobile phone subscriptions has risen to no less than 500 million (as of the end of December 2009), making it the world’s second-largest market, behind only China. Mobile phones have also become pervasive as life infrastructure in other Asian countries, where markets are expected to expand with the widespread adoption of third-generation (3G) phones.
ITOCHU currently operates Internet and mobile business both in Japan and overseas. With its capital participation in Affle, ITOCHU will use the overseas network of its Group companies to provide content to and sell advertising spots on the platform provided by Affle. ITOCHU will also seek to enter new markets in cooperation with Affle, and will strive to expand the mobile-related business overseas with a focus on Asian countries expected to achieve remarkable growth.
Profile of Affle Holdings Pte. Ltd.
|Company name||Affle Holdings Pte. Ltd.|
|Head office||2 Peck Seah Street, #04-01, Air View Building, Singapore 079305|
|Shareholder||The management of Affle, Microsoft Global Finance, ITOCHU, etc.|