Nextnation said the acquisition of Elasitas would allow the company to expand into Indonesia by tapping onto the latter's existing networks, which include telecommunication companies, media partners, channel partners, content providers, mobile and technology vendors. Elasitas was poised to widen its revenue and profitability base in the next two years with the advent of 3G technology and growing telecommunication industry in Indonesia.

“The proposed acquisition is in line with the principal business activities of the group and is expected to complement its existing business and enhance the group’s position in relation to the provision of mobile multimedia application services,” said P.Y Tey, CEO of Nextnation.

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The global market for cell phone premium content, including music, gaming and video, is expected to expand to more than $43 billion by 2010, rising at a compound annual growth rate of 42.5 percent from $5.2 billion in 2004, according to iSuppli Corp.

About Nextnation

Nextnation, a mobile application service provider, enables businesses and individuals to access, connect, and transact across today's complex global mobile networks. Its core product MINDCEP™ Platform is a mobile multimedia communication platform, facilitating and enabling mobile data transmission worldwide using WAP, MMS, SMS and Java technologies. MINDCEP™ is connected to some of the largest premium messaging networks in the world in order to offer a broad range of services from content distribution to mobile m-commerce and place the company at the forefront of this rapidly growing messaging market. Additional news and information about the company is available at www.nextnationnet.com.