Mexican content giant strengthens its presence in South East Asia with swoop for Indonesian SMS provider.
Binbit says the deal will enable it to offer its 90,000 strong catalogue of MP3s, ringtones, games, apps, wallpapers, alerts and screensavers to one of the world's biggest populations.
It expects the local mobile premium content market to be worth more than $3.5bn by 2013.
Forest Media has connections into the biggest operators in Indonesia, and is able to support SMS-based solutions in mobile marketing, billing, mobile web, and content delivery.
It also provides SMS TV formats tailored to local broadcasters.
Antoni Muntaner, chairman at The Binbit Group, said: “The purchase of Forest Media International translates into the significant consolidation of Binbit in Southeast Asia, achieved during the past couple of years in a solid and constant process, always following detailed business planning according to our customers’ needs and market evolution.
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"More importantly, the addition of valuable Indonesian talent to the global Binbit family”.
The acquisition comes two months after Binbit reached a milestone of processing 3 billion premium SMS messages, and opened a new office in Hong Kong.
Binbit also bought Singapore-based games aggregator Acme in 2009.
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