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August 05, 2008

Globe Telecom acquires EGG for Php351 Million

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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8 Responses to “Globe Telecom acquires EGG for Php351 Million”

  1. BigBird says:

    That’s a very expensive EGG! I hope it doesn’t break!

  2. BrianB says:

    Why when they will have iTunes?

  3. Gee Please says:

    Looking forward to what their intro feature might be…

  4. blozoom! says:

    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.)

  5. Maryon Mayor says:

    sorry for OT,

    Entertainment Gateway Group is hiring developers and programmers, you can send your CV to mmayor@egg.ph

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Abe is the founder and Editor-in-Chief of YugaTech. You Can follow him on Twitter @abeolandres.

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