NTT DoCoMo to buy net mobile

DoCoMo’s wholly-owned German subsidiary will offer 6.35 euros per share in cash for all outstanding shares of net mobile by the end of September.

The bid has been supported by net mobile's management, subject to certain conditions. 

The move would appear to signal a fresh assault on Europe by DoCoMo, after the dismal failure of its i-mode experiment in 2006/7.

Masatoshi Suzuki, senior EVP of DoCoMo, said: “net mobile’s technology and European presence are major plus points for DoCoMo, which is strengthening the foundation of its mobile platform business overseas.

"DoCoMo believes the close collaborative relationship resulting from this transaction will contribute significantly to growth at both companies.” 

net mobile is one of Europe's more enduring VAS companies. It bought Minick in 2008, and its revenue increased by 57 per cent year-on-year to €66m in the nine months to FY 2008/9. EBIT was €198,000.