Dimoco, a direct carrier billing services provider, has announced the acquisition of the premium SMS business of Telekom New Media, a subsidiary of Magyar Telekom, a leading Hungarian telecommunications service provider.

"With our recent acquisitions of businesses in France, Greece and Italy, this is Dimoco's fourth customer acquisition in recent history, and our momentum is only growing stronger," said Gerald Tauchner, Dimoco president and CEO. "From the very beginning, the Hungarian market has been one of the most strategic and relevant for DIMOCO's expansion strategy. With strong traction in other countries and across the EU, we are now the market leader for billing digital content via the mobile phone in the country."

Dimoco said in a press release that the Hungarian market boasts a 109.3 percent handset penetration rate, as opposed to its 11.8 percent credit card acquisition rate. Hungary has nearly 11 million handsets in circulation, according to Dimoco's claims.