DGAP-News: CLIQ Digital takes full control of Red27 Mobile by acquiring minority shareholding to significantly improve mobile content strategy and operations
DGAP-News: Cliq Digital AG
/ Key word(s): Strategic Company Decision
CLIQ Digital AG (CLIQ.DE, ISIN: DE000A0HHJR3, WKN: A0HHJR), a global streaming provider specialising in the direct marketing of affordable entertainment products, offering its members unlimited access to music, audiobooks, sports, movies and games, announces its next strategic step to take full control of the operations of Red27 Mobile Ltd.. The company has signed the buyout of the remaining non-controlling 20% minority shareholding from two former co-founders and company directors, who have now left the Group. The consideration totals a low single-digit million euro amount. The principal business activity of the London-based Group company Red27 Mobile is selling digital entertainment products for smartphones via performance marketing on mobile channels. The global smartphone market is an advanced and attractive market for streaming entertainment services. The further development of multi-content portals in parallel to single-content portals will make CLIQ more relevant to consumers and facilitate the targeted market positioning as a niche player. The goal of the buyout is to take full control of the mobile content operations, which will contribute to greater effectivity and an optimised business development. In addition, content and portal expansion will speed up, facilitating further sales growth opportunities. Furthermore, both internal and external communications will be expanded and improved with particular focus on customer care. Red27's customer service was recently transferred to experienced CLIQ Digital customer relationship managers located in Amsterdam. The previous local guidelines and solution were not in line with the Group's customer care policy and guidelines. CLIQ's Management Board identified this issue and transferred full responsibility to senior HQ staff. Statement from Ben Bos, member of the Management Board: Financial calendar 2022:
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06.12.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Cliq Digital AG |
Grünstraße 8 | |
40212 Düsseldorf | |
Germany | |
E-mail: | [email protected] |
Internet: | www.cliqdigital.com |
ISIN: | DE000A0HHJR3 |
WKN: | A0HHJR |
Indices: | Scale 30 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1254311 |
End of News | DGAP News Service |
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1254311 06.12.2021