We got it: Going enters in the shareholding structure of mmCHANNEL

I will be sharing with you some insights that i/we have learned on our negotiation phase (once that Going is now part of our shareholding structure and therefore our partner)

In the meantime I am publishing the "formal" press release of the announcement

Savia Capital Innovación enters into the shareholding of Multimedia Mobile Channel S.L. (mmCHANNEL), a Value-Added Services and Technology provider

MADRID/BARCELONA, February 8th, 2007.

Savia Capital Innovación, a growth oriented fund manage by GOING Investments, has acquired a minority stake in the shareholding structure of mmCHANNEL, a leading value-added services and technology provider focused on end-to-end digital entertainment solutions and services for telecommunication providers and other players.

mmCHANNEL is headquartered in Madrid and recently opened a second office in Dubai. The young company has quickly gained recognizition as an international leader in its field with worldwide companies such as Vodafone, Telenor and KPN. on its client list.

“Since the company’s launch four years ago, mmCHANNEL has enjoyed a number of successes, and we continue to offer one of the most innovative solutions in the market. We will also continue our high standards of service quality while pursuing our expansion into new markets,” said Cristobal Alonso, Chief Commercial Officer for mmCHANNEL. “With this first funding from Savia Capital, we will continue to broaden our service portfolio and seek out new opportunities to help wireless carriers and record labels provide the latest digital entertainment solutions to consumers.”

“The objective of Savia Capital entering mmCHANNEL is to support and to help strengthen mmCHANNEL’s financial position as it continues to expand internationally from its European presence into Africa, Asia and Latin America”, said Teresa Azcona, CEO of Going Investments (www.going.es). “At Going Investments and Savia Capital we look to support growing companies backed by strong management teams with the right vision. We have found both at mmCHANNEL.”

mmCHANNEL’s expansion plan is based on a strategy of ongoing development of innovative and robust products and services, increasing our commercial reach and consolidate our leadership position allowing the company to develop a software and VAS development multinational business.

“mmCHANNEL’s main asset is its 15-member team, small but ambitious. They have an ownership mentality and an international experience which is ideal for the company’s current status”, says Pedro Domingues, Founder and Chief Technology Officer.