Mobile phone group Getmobile has agreed to invest just over €400,000 for a 65% stake in a company called Premingo.
Premingo is a start-up joint venture with software company Complex. Its aim is to set up and operate a new open access internet platform, which will be called Premingo.
Getmobile says Premingo will offer German consumers contracts covering services such as insurance, utilities, telephones, pay TV and banking services.
In addition to its initial cash investment Getmobile will provide Premingo access to advertising services through its group network. As a start-up it is anticipated that Premingo will be loss making in its initial stages, Getmobile says.
Premingo is 30% owned by Complex. The remaining 5% is held by management.
Getmobile says the move enables it to expand its core business of bundling mobile phone contracts with consumer goods into new household contract areas.
Meanwhile, Getmobile said trading in the quarter to the end of September was in line with expectations and there were signs that pre-Christmas trading would be strong.
