Media Release: American Mobile Ventures acquires K2 Media to create mobile content leader

MOBILE digital media publisher, American Mobile Ventures (AMV), has acquired the assets of K2 Media, owner of mobile brands such as Big Chilli, DBM and manager of What’s On TV Mobile, creating what is believed to be one of the largest dedicated mobile content companies in Europe.

AMV is recognised as one of the largest UK-based digital mobile content publishers, with 62 staff.

The company is a leading buyer of global mobile traffic, working with networks such as Google and InMobi, directly with global publishers, and via off-line direct-to-consumer advertising.

AMV will retain the K2 offices in Kendal, Cumbria, along with all existing staff. K2 Media founder, Steve Kitchen, retains a stake in the business and becomes the managing director of the newly established Chilli Music Limited.

Says a spokesperson: “Chilli Music is a direct to consumer mobile entertainment portal, offering fully-licensed full-track downloads and full albums for  mobile devices, alongside a comprehensive range of mobile games including those from the leading games publisher Electronic Arts.

“Launched in March 2010, Chilli is one of the fastest-growing music download services for mobile in the UK, delivering over a quarter of a million downloads to date and over 50,000 track downloads  expected in December alone. The label’s ‘no subscriptions – no rip-offs’ catchphrase has resonated with consumers, and is helping clean up the industry reputation for expensive and low value / low choice music subscription services.

“AMV is injecting significant funding to enable Chilli to grow its UK business and to expand internationally. Chilli Music will continue to operate as an independent subsidiary with its own management, ensuring a sharp focus on growing the music business, but the company will take advantage of AMV’s international distribution and traffic buying capabilities.”

Steve Kitchen, K2 founder and new managing director of Chilli Mobile, says: “K2 Media combined all of the best attributes of mobile media – dedicated content, focused brands, simplicity and convenience with a straightforward and trustworthy business model, which ensured consumers returned again and again, for all of their mobile content.

“By taking this philosophy forward and combining it with AMV’s international penetration, Chilli Mobile promises to be one of the most valuable and trusted brands in the global mobile market.”

Jack Cresswell, chair of AMV, agrees: “The acquisition of K2 Media provides AMV with a popular, established mainstream mobile brand and an authentic music publishing platform for mobile devices.

“This compliments our other platforms such as Mobile TV and video-clip downloads, to offer our UK and global consumers the widest range of quality mobile entertainment content available today.”

About AMV Holdings

Founded in 2004, AMV has grown into one of the largest UK-based mobile digital content publishers, with 62 staff based in Marlow, Buckinghamshire. With mobile billing and localised content offerings in 14 markets and global publishing with credit card billing, AMV’s business model is simple – provide mobile content consumers what they want, when they want it, with convenient easy payment mechanisms.

AMV is a leading buyer of global mobile traffic. The company works closely with networks such as Google and InMobi, directly with global publishers, and via comprehensive offline direct-to-consumer advertising. AMV possesses one of the largest consumer databases in the world and has developed sophisticated re-marketing models to continually engage with its consumers.

In October 2008 AMV was acquired by US listed company, Mandalay Media Inc, in a deal worth $22m.

In July 2010, AMV was reacquired, as a private company, by a combination of the original founders and new investors.

AMV’s business has been consistently profitable since the company’s foundation.

AMV now has a multi-million dollar reserve to deploy in growing its markets both organically and through accretive acquisitions.

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