Buongiorno expects growth, savings from iTouch deal

Buongiorno S.p.A. forecasts it will bring in revenues of $462 million to $476.5 million for the year, as well as also predicting continued growth in 2008, forecasting $484 million to $513 million in revenues.
By the close of next year, the Italian mobile content and advertising behemoth expects its net financial debt to be around $73 million to $80.6 million.
This past summer Buongiorno got a major boost in the mobile content space with its acquisition of U.K.-based content provider iTouch plc for $192 million.
The purchase swelled the company’s ranks to 1,100 employees with 38 offices in 53 countries. The company is hoping to achieve overall savings of $14.7 million from the integration of iTouch by the first half of 2009.
“Thanks to the extremely important acquisition that is being finalized, Buongiorno can look ahead with great confidence to the next phase in the development of the mobile-entertainment market,” CEO Andrea Casalini said in a statement.