Orascom Telecom offer $10 million to MyScreen for strategic minority investment.
Rating: Good deal all round?
They Say: MyScreen have announced that Orascom have invested $10 million for a minority investment. Additionally this tie up exclusively allowed MyScreen access to Orascom’s 70 million + subscribers in the Middle East, Africa, South Asia and its affiliates’ (Wind Italy and Wind Greece) approximately 18 million subscribers.
“With over 90 million handsets in the Orascom/Weather group of companies, we believe that MyScreen will play an important role in allowing us to pursue plans to include mobile advertising in our business model” said Naguib Sawiris, Chairman and CEO of Orascom.
This was Orascom’s first strategic investment into a technology company and they felt MyScreen was the best option. Said Michael O’Connor, Orascom’s Investment & Business Development Officer, “After extensive research and evaluating several different opportunities, we choose MyScreen as it is one of the most compelling opportunities we have seen in the past 10 years.”
MyScreen is a marketing and advertising tool that has a permission and incentive based marketing model that compensates users for allowing targeted advertisements to appear at the end of a call in a variety of formats. the subscriber is in control of what, when, and how they receive advertisements. Rewards are accumulated in each subscriber e-wallet account, and can be redeemed for high perceived value low cost products and services such as ring tones, extra air time, music downloads and games.
Said Chris Meissner, EVP of MyScreen, “We are delighted that Orascom believed that their subscribers must share in the rewards of advertising dollars - the unique value added proposition for subscribers opting-in to the MyScreen experience.”
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One Response to “Orascom Telecom offer $10 million to MyScreen for strategic minority investment.”
Orascom also own Wind in Italy - a great test bed for these sevices.
Comment made on May 28th, 2008 at 7:47 amLeave a Comment