Italian mobile entertainment giant Buongiorno has acquired Argentinian company By-Cycle for $5.5 million in cash. By-Cycle operates in Argentina, Uruguay and Peru, and offers both mobile marketing services and content (ringtones, wallpapers, videos, java games, news, chat and communities) through its Bippie brand. Buongiorno (BIT: BNG) started working with By-Cycle in April, and apparently liked what it saw. It’s also making a strong push into Latin America, and this is a part of that. (PDF release via DigitalMediaWire)

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