IN&M profits of €79m on iTouch
For-Side.com, the Japanese provider of ring tones and games for mobile phones, yesterday made a €280m bid for the former IN&M subsidiary iTouch in which the Tony O’Reilly led company retained a 37% stake.
The Japanese bid put a 27% premium on the traded value of iTouch which only became profit-delivering this year, after years of burning cash.