acquisition of empowered communications

CMO buying up another company. Probably had something to do with the action over last couple of weeks:


29 October 2007
CommodiTel to acquire leading eMarketing
group Empowered Communications
CommodiTel Limited (ASX: CMO) is pleased to announce that it has signed an
agreement to acquire 100% of the Empowered Communications group of companies,
subject to procuring financing to fund part of this acquisition.
Established in 2001, Empowered is Australia’s leading permission based online
marketing provider. It runs a network of websites and loyalty programs for its preregistered
subscribers who simply respond to, or take part in, promotional and
marketing research campaigns in return for free rewards such as SMS’s, ring tones.
The acquisition details will be disclosed before 30 November 2007 being the deadline
for the financing condition precedent to be satisfied. At this point an upgrade to FY08
EBITDA forecast will be provided.
A vision of CommodiTel is to establish itself as a leader in the convergence of mobile
phones, the internet and media communications. The mobile phone and the internet
will continue to converge over the coming years, and there is a lot of hype about
how advertising revenues and marketing will evolve with the mobile. CMO has a
vision that this evolution will take place with the mobile acting as an extension of the
internet and as a result both mediums will continue to co-exist. With this view in
mind CMO sought out an opportunity to acquire a proven and successful internet
partner who was profitable with revenues from online advertising and marketing.