Just got a copy of Globe’s disclosure to the SEC announcing the 100% buyout of Entertainment Gateway Group and all its affiliated companies (EGGstreme of Hong Kong) for a total cash amount of Php351 Million.
EGG is one of the leading mobile content providers in the Philippines, offering value-added services for mobile including music downloads, news & information, games, chat, and web to mobile messaging.
EGG provides content not only in the Philippines but also Hong Kong, Singapore, Japan, Malaysia, US and Dubai. It has also partnered with Friendster.com and Yahoo.com for web to mobile services. (Previous stories here points to Friendster Philippines partnering with EGG/Hyper Application on Mobile.) They also own web portals such as kamusta.com and fliptup.com.
Melissa Limcaoco founded Entertainment Gateway Group in 2001.
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That’s a very expensive EGG! I hope it doesn’t break!
Why when they will have iTunes?
Looking forward to what their intro feature might be…
will i expect price drop on globe mobile content? home cooked na games, downsloads, etc. eh. (i guess not, they’ll get back 351M from me and you.)