IRVINE, Calif.-Korean wireless content company UAngel Corp. has acquired majority ownership of Downplay Inc., a California-based content provider and Internet storefront.
Terms of the deal were not disclosed.
The move marks the entry into the U.S. wireless market for UAngel, which has operations in a dozen countries and claims a market capitalization of $300 million. Downplay, which offers content both through carrier decks and through its Web portal, said the acquisition will allow it to expand its offerings and carrier relationships.
“UAngel has a very broad scope of things they can do,” said Christopher L. Pitzak, who will remain as president and chief executive officer of Downplay. “We’re going to move into ringbacks, and a lot of the applications we’re going to be launching in the U.S. are the next generation of what we’re currently doing, like video ringtones.”
