STRATEGIC INVESTMENT IN DIGITAL CONTENT FUTURE
The transaction brings the integration of the digital media ecosystem of Mondo INC into the portfolio of Telekom Srbija, with further development of production capacities through Firefly Productions
Telekom Srbija has reached an agreement on acquiring 80 percent of the share in the company Mondo INC doo and thus also acquired ownership over the company Firefly Productions doo, as well as ownership over the most cutting-edge studios in this part of Europe.
As one of the biggest and fastest growing telecommunications operators in South East Europe and at the same time the leading telecommunications group in the Western Balkans, Telekom Srbija by this transaction continues to develop its operations through expanding its portfolio and entering new business models. It also adds to its media portfolio the largest digital media ecosystem in Serbia, by which it completes the offer towards the customers and additionally strengthens its capacities in the sphere of digital services and advertising, as well as production and studio capacities. By integrating the ecosystems of Telekom Srbija and Mondo INC we improve the offer for our customers in the infotainment segment, create more value for end users through content and a larger offer for companies and advertisers through more modern formats, a greater reach and advanced digital tools. Also, the acquisition of the Firefly Production and studio is a significant step towards further expansion of content production capacities, given that the streaming services are the future and that the company after this acquisition has the ambition to become a leading producer and owner of local content, which is also relevant for global giants.
By this change in the ownership structure, the leading digital media company in Serbia and the region, Mondo INC, enters a new business era, and this business transaction is a next step towards further modernization of the company’s operations, diversification of its media portfolio and strengthening its overall market value.
Telekom Srbija follows the practice of the world's largest operators and uses the advantage of its network to create and market its own content, thereby increasing the value for end users and differentiating itself on the telecommunications market. Also, Telekom Srbija confirms its strategic transition into a modern digital technology leader, whose business model increasingly resembles global technology companies. This business move is part of the Telekom Srbija Group's strategy at the global level, whose reach now includes 13 markets and almost 14 million users with a tendency for further continuous growth.
