Private equity firm Francisco Partners takes over and launches Lumata.
Francisco owns 70 per cent of the new entity, with Buongiorno retaining 30 per cent.
B2B previously contributed 20 per cent of group revenues, so this is a significant shift. And it means that Lumata will, from today, operate globally with 15 offices and more than 500 employees.
Its focus will be a mobile marketing offering that already serves more than 100 customers including operators, handset manufacturers, and consumer brands.
Heading up Lumata will be former Clearwire and Match.com CEO Thomas Enraght-Moony.
He said: “Mobile marketing is the place to be – it’s how consumers prefer to interact with the companies that serve them.
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"Helping businesses with the challenges mobile presents is a big opportunity for an experienced team with the right financial backing. That’s Lumata.”
The sale means Buongiorno will focus now on its 'traditional' B2C services and 'accelerating the development of new services oriented at the final consumer that leverage on both the mobile internet and the app world.'
This side of the business comprises a music portfolio boosted by the recent purchase of Dada.net, traditional D2C products and new social services such as HelloTxt and Proximity Tips.
Andrea Casalini, CEO of Buongiorno, said: “With this deal, we will effectively pursue a strategic vision and management focused and oriented at a global leadership in two highly attractive market segments.
"At the same time, we complete a financial operation that highlights the value that we have created in the past years, and that today, is still not fully realsed by the market. For both reasons, this transaction is a first step in exposing and underlining the full value of our company."
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