Japanese company Faith Inc—which owns Moderati (previously known as FaithWest)—has quietly acquired Takenet, the Brazilian mobile content company that is dominant in Latin America. I’ve linked to the Google translation of the Japanese press release, which indicates that Takenet has a 75% share of the Brazilian ringtone market, and the Brazilian content market was US$38 million in 2003 and is expected to grow to US$250 million in 2007 .  “LOKOMIX, TakeNET’s branded ringtone service, is distributed through many Brazilian operators, including the leader, Vivo. Their ringtone downloads exceed 5,000,000 per month.”

Related stories:
—U.S. Cellular offers music content through Faith West
—Japanese Mobile Music Providers Continue Overseas Expansion
—VC Capital Rushing Into Mobile Games