LONDON-U.K. information services firm iTouch said it will buy Spanish and Portuguese premium-rate text message service Movilisto for up to US$64 million.
Under the terms of the deal, Movilisto will be paid for with US$21.31 million of new iTouch shares and US$5.33 million to US$15.98 million in cash on completion, depending on its level of working capital. ITouch will pay a further US$26.63 million in cash and shares depending on the Spanish company’s performance during a two-year period.
