(MENAFN- ProactiveInvestors)
iSentric Limited (ASX:ICU) has completed the acquisition of Arte Mobile Technology to expand its geographic footprint to Indonesia and deploying its products and services into South East Asia’s largest and fastest growing mobile market.
Arte Mobile is a mobile value added service provider specialising in mobile entertainment and mobile solutions.
It offers a diverse range of popular locally produced mobile content to suit the market in Indonesia and by extension the larger Malay speaking market across South East Asia.
Arte Mobile is partnered with 3 major telecommunication companies in Indonesia namely Telkomsel Indosat and XL (in which it is ranked in the top tier in terms of revenue generation) and has access to over 255 million mobile subscribers
The acquisition is expected to be earnings per share accretive.
iSentric has issued 38 million shares as part consideration together with the payment of cash which was raised through the recent entitlement offer.
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