Mobile entertainment firm Buongiorno has announced the acquisition of fellow Italian company Dada for €28.5 million (around $40.6 million). The deal also includes various Dada subsidiaries and services, including streaming music service Play.me. “Dada.net is an acquisition of great importance, since it is not only complementary in terms of products and geographical footprint, but it also brings to Buongiorno the excellent skills of innovative product primarily in the Internet mobile market, and enables us to win the competition in a highly challenging environment at a global level,” says Buongiorno CEO Andrea Casalini. Dada launched Play.me in January 2010, using a hybrid subscription model for unlimited streaming and bundled downloads. It is available online and as mobile applications. The Dada Entertainment subsidiary that launched it started life as a joint venture between Dada and Sony Music Entertainment.
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