June 28, 2016 03:30 ET

DIMOCO Acquires Payment Division of Telekom New Media to Become the Leading Carrier Billing Aggregator in Hungary

The Fourth Acquisition for Company in Less Than Two Years, This Deal Further Strengthens DIMOCO's Position as Europe's Leading Payment Institute for Carrier Billing

VIENNA, AUSTRIA and BUDAPEST, HUNGARY--(Marketwired - Jun 28, 2016) - DIMOCO, a leading payment institute for carrier billing services, today announces the acquisition of the premium SMS (PSMS) business of Telekom New Media Zrt., a subsidiary of Magyar Telekom Nyrt., the leading Hungarian telecommunications service provider. This acquisition solidifies DIMOCO's position as the leading carrier billing provider in the Hungarian market.

"With our recent acquisitions of businesses in France, Greece and Italy, this is DIMOCO's fourth customer acquisition in recent history, and our momentum is only growing stronger," said Gerald Tauchner, DIMOCO president and CEO. "From the very beginning, the Hungarian market has been one of the most strategic and relevant for DIMOCO's expansion strategy. With strong traction in other countries and across the EU, we are now the market leader for billing digital content via the mobile phone in the country."

The Hungarian market boasts a 109.3 percent handset penetration rate, as opposed to its 11.8 percent credit card acquisition rate. With nearly 11 million handsets in circulation, this market is primed for the current and future opportunities made possible with DIMOCO carrier billing services.

DIMOCO had taken over the PSMS (premium SMS) aggregation business of Telekom New Media Zrt. in December 2015. The Hungarian company is specialized in mobile value added services and solutions, Telekom New Media Zrt., continues its operation on the market.

DIMOCO is a payment institute for carrier billing enabling almost 1 billion European subscribers to purchase goods and services from merchants and aggregators with their mobile devices which are charged via the operators' billing system.

Picture material:
Gerald Tauchner, DIMOCO Co-Founder & CEO
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