Faith Inc. acquires Digiplug S.A. to strengthen its position outside of Japan
in multimedia technologies for mobile phones
Tokyo, Japan - August 13th, 2002 - Faith Inc, (JASDAQ code: 4295), the worldwide leader in sound technologies for wireless devices, today announced the acquisition of Paris, France-based Digiplug S.A. by way of a share purchase transaction.
This acquisition significantly strengthens Faith's global presence outside of Japan and expands the company's portfolio of multimedia content distribution technologies into wireless networks and devices based on the GSM standard.
Digiplug S.A. specializes in the development, marketing and sales of wireless client and network software technology, which facilitates the seamless delivery of advanced audio and other media content such as polyphonic ringtones, logos and images to mobile users. The company's current product offering includes embedded software solutions, implemented in wireless devices for ringtone storage and playback. Digiplug also provides carrier-grade content distribution platforms to wireless operators, automating wireless multimedia content delivery via SMS and WAP, as well as associated billing and digital rights management. Digiplug's current customers include some of the leading global vendors of wireless devices, such as Panasonic and Philips and some of the largest European wireless network operators including Orange and Vodafone. In addition, Digiplug has an exclusive agreement with Universal Music, a subsidiary of Vivendi Universal, for content distribution in Europe.
"We are very excited about the technologies, market traction and commercial successes that Digiplug has developed in Europe" said Masato Nakanishi, COO and co-founder of Faith Inc. and President of its US subsidiary, Faith West Inc. "Digiplug's expertise and technology in the GSM world is a natural extension of Faith's wireless product portfolio and will allow the combined group to secure a global leadership position in wireless multimedia content delivery."
"Digiplug's customers, partners and employees will greatly benefit from this acquisition. Faith will contribute significant technology, expertise and infrastructure to Digiplug to allow us to continuously deliver "best-of-class" products to our existing and new customers, creating a worldwide leader in next generation multimedia content delivery" said Stephane Bohbot, CEO of Digiplug.
Nomura International plc and Nomura Securities Co., Ltd. acted as the financial advisors to Faith. Digiplug were advised by KPMG Corporate Finance.
About Faith Inc:
The mission of FAITH, INC. is to deliver content to users. Supporting business development for companies at each stage of the content distribution process, including telecommunications carriers, semiconductor and mobile phone vendors as well as content providers, FAITH provides sound technologies and audio format technologies along with business solutions for content service planning, creation, and operation. Through alliances with companies in Japan and abroad, FAITH helps to create new markets for content distribution business using mobile phones, PCs, game gear, and other platforms. The company's US subsidiary, Faith West Inc., delivers mobile content to U.S. consumers and supports the licensing of FAITH technology to manufacturers of mobile phones and other communications and electronic devices globally. |
