Buongiorno Strengthens its LatAm Operations Acquiring Argentinean By-Cycle for 5.5 m USD, Opening Offices in Sao Paulo, Brazil and Accelerating Synergies With Recently Acquired iTouch in the Burgeoning LatAm Mobile Market

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Buongiorno Strengthens its LatAm Operations Acquiring Argentinean By-Cycle for 5.5 m USD, Opening Offices in Sao Paulo, Brazil and Accelerating Synergies With Recently Acquired iTouch in the Burgeoning LatAm Mobile Market

Buongiorno Strengthens its LatAm Operations Acquiring Argentinean By-Cycle for 5.5 m USD, Opening Offices in Sao Paulo, Brazil a

By: PR Newswire

Oct. 24, 2007 01:56 PM

MIAMI, Florida, October 24 /PRNewswire-FirstCall/ -- Buongiorno SpA (MTAX STAR, Italian Stock Exchange: BNG), which last July signed an agreement for the acquisition of iTouch becoming the world's No.1 provider of mobile entertainment, information, messaging and marketing services, announces today the acquisition of 100% of the share capital of By-Cycle (Axis Mundi S.A.), leading Group in Argentina, Uruguay and Peru in the digital entertainment market and mobile marketing, with headquarters in Buenos Aires and Lima.

Buongiorno will pay By-Cycle 5.5 million USD in cash(1).

By-Cycle, active since 2002, operates with two business lines: mobile marketing services and mobile value added services under hugely successful BIPPIE brand (http://www.bippie.com/), leader in Argentina. Bippie's offer includes value added services as ringtones, wallpapers, videos, java games, news, chat and communities, reaching a potential customer audience of 31 million clients.

By-Cycle has been the first to collaborate with the 3 main telephone operators, it conceived and promoted the first interactive TV (cable as well) voting action, the first interactive txt game and the first mms soap opera (FanTESStic) for its consumers. Since its inception, By-Cycle realized more than 300 voting activities in Argentina, Ecuador, Mexico, Colombia, Uruguay and Peru.

In addition, By-Cycle generated a unique range of Mobile Marketing services to develop creative mobile marketing concepts and solutions for its clients: Disney and Nokia, among others; and relevant agencies such as Ogilvy, JWT.

Buongiorno started cooperating with By-Cycle in April 2007 for designing and promoting the "Superconcurso Blinko Argentina" in collaboration with Telefonica Moviles: a contest which allowed to win up to 500.000 pesos, simply sending an sms. The operation had an enormous and immediate success, collecting more than 16 million sms (900,000 unique users).

"The mobile market in Argentina is rapidly growing, counting over 31 million mobile phones. We are delighted for the acquisition of By-Cycle; our aim is to create and deliver high quality products and services to partners and final consumers" comments Andrea Casalini, Chief Executive Officer of Buongiorno.

The acquisition of By-Cycle is another step in Buongiorno's global growth and presence in the LatAm market - Brazil, Mexicod Peru.

Buongiorno started and Argentina and co-leader in Brazil, counting on connections with the 15 top mobile operators of Central and South America.

Buongiorno has been present in Mexico since 2004 and has a solid partnership with Televisa - Esmas, the main media group in Central and South American countries and it is leader in the US Hispanic mobile entertainment market. In 2007 Buongiorno opened new offices in Sao Paulo, Brazil, and signed an agreement with TIM Brazil, the second mobile operator of the country (with over 24 million clients), for the production and distribution of TIM Music Store, the new virtual music shop which will allow its users to listen and buy entire songs and audio/video content of the most known Brazilian and international music artists.

(1) plus a possible earn out of up to 4 million USD based on EBITDA estimates for 2008-2009.

http://www.buongiorno.com/ Contact Monica Montefusco Global PR & Events Manager Tel. +39-02-582131 Email: monica.montefusco@buongiorno.com

Buongiorno

CONTACT: Contact, Monica Montefusco, Global PR & Events Manager, Tel.
+39-02-582131, Email: monica.montefusco@buongiorno.com

Published Oct. 24, 2007
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