VC-backer flips iTouch after four months

Friday 20 July 2007 at 15:20

US venture capital firm Oak Investment Partners has made a swift sale of mobile entertainment content provider iTouch for more than two-and-a-half times the amount it paid for the company just four months ago.

The firm sold iTouch to Italian-based mobile media company Buongiorno for €192m ($265m), after it backed a management buyout of the company in March.