InternetQ acquires Atlas Interactive Deutschland
InternetQ announced that it has completed its acquisition of Atlas Interactive Deutschland GmbH for GBP5 million. InternetQ was a leading mobile marketing and entertainment solutions provider.
The transaction was in accordance with InternetQ's strategy, which was to broaden its reach geographically and develop its service offering. Specifically, the acquisition would accelerate InternetQ's expansion to Western, Central, and Eastern Europe. The deal would also help InternetQ increase its mobile marketing activity in mobile network operators (MNOs) with direct commercial agreements with Atlas. These MNOs also had very little overlap with the company. In addition, this would also drive greater profit growth and earnings per share levels.
According to Panagiotis Dimitropoulos, InternetQ's CEO, the company was delighted to complete its second significant acquisition since its listing in AIM. "Atlas presents an exciting opportunity for InternetQ to accelerate our strong organic growth," said Dimitropoulos. He also added that "With the current trading strong and organic growth underpinning our success, the Board continues to remain confident in our future prospects."