Dada.net

Fineurop Soditic acted as exclusive financial advisor to Dada S.p.A., company listed on the Milan SE, in the disposal of its subsidiary Dada.net S.p.A. to Buongiorno S.p.A., a leading provider in mobile content listed on the Milan Stock Exchange. The settlement price for the acquisition of Dada.net S.p.A. is equivalent to Euro 28.5 million, in addition to the consolidated net financial position of Dada.net at the specified closing date, from which will be excluded the net financial position of Giglio Group. Dada.net is a pioneer in the digital entertainment sector and ranks as one of the world market leaders in the mobile Value Added Services (“VAS”). The unique nature of the Company’s services is the convergence of a wide number of applications and a rich library of content, from entertainment to social networking, music platform and online gaming, accessible via PC and mobile. The Company has more than 5.8 million paying customers worldwide. In 2010, the overall revenue of Dada.net was Euro 76 million with an EBITDA of around Euro 10 million. The acquisition of Dada.net is fully in line with the strategic objectives of Buongiorno, aimed at growing the business through both market share in “traditional” B2C and B2B services, and through new service development, particularly in the smartphone and App Store sectors. The transaction is also in line with Dada's announced strategy to rationalize its asset portfolio.