US-based internet company Yahoo! has announced its acquisition
of a 15% stake in the wireless internet portal Sonera Zed, a
privately held unit of Finnish telecoms operator Sonera. Under the
terms of their agreement, Yahoo! and Sonera Zed will soon begin
delivering co-branded mobile services across Europe. Although the
financial terms of the deal have not been disclosed, it is reported
to have been a cash deal and Yahoo! will have the option to take
full control of the company.
The two companies have stated that during the first phase of the
partnership they will begin providing services such as news alerts,
picture messages, screen logos and ring tones to customers in
Finland, Italy, Germany and Britain.
Yahoo! further aims to use Sonera Zed’s technology to eventually
provide its Yahoo! Messenger and Yahoo! Mail services to mobile
subscribers across Europe.
Mark Opzoomer, managing director of Yahoo! Europe, said; “We
believe that there are tremendous growth opportunities in paid
consumer value-added services in Europe.”
Yahoo! and Sonera Zed collaborated during this summer’s World
Cup to allow Sonera customers to receive score updates. The service
was charged to the mobile phone bills of the subscribing customers
and the revenues were shared between the two companies.
