Payment company DIMOCO has just announced another acquisition in the space, buying Telekom New Media’s payment division.
The business just revealed it is acquiring the premium SMS business of Telekom New Media Zrt., a subsidiary of Magyar Telekom Nyrt., Hungary’s leading telecom provider.
This is the fourth acquisition for DIMOCO in just under two years, and helps to solidify the payment company’s place as the leading carrier billing provider in the Hungarian market.
Currently, the Hungarian market has a 109.3% handset penetration rate, with over 11m phones, but just a 11.8% credit card acquisition rate, making carrier billing a favoured payment option in the country.
Speaking about the acquisition, DIMOCO president and CEO Gerald Tauchner, said: “With our recent acquisitions of businesses in France, Greece and Italy, this is DIMOCO’s fourth customer acquisition in recent history, and our momentum is only growing stronger.
“From the very beginning, the Hungarian market has been one of the most strategic and relevant for DIMOCO’s expansion strategy. With strong traction in other countries and across the EU, we are now the market leader for billing digital content via the mobile phone in the country.”
In 2014, GDI & DIMOCO collaborated on a dating industry special report into the European carrier billing market, which you can download below: