Monstermob Buys China’s ATOP

UK-based mobile content provider Monstermob is buying Chinese content provider ATOP Century Ltd for around $100 million (55.5 million pounds), saying it would pay for the deal in cash and shares in equal proportions, with $30 million in cash and $12 million in shares paid initially on completion.
ATOP supplies ringtones and pictures to Chinese mobile users…it has an EBITDA of $4m in the first half of 2005 on net revenues of $6.5m. It employs 100 people and had net
assets of $4.4m at 30 June 2005.
Monstermob said ATOP has around 1.25 million mobile subscribers in China who curently receive mainly local language services, and it expects the Chinese mobile market to grow from 345 million users to 570 million by 2008.
ATOP founder Qian Yongqiang is expected to net up to 25 million pounds from the sale…
More details in the release
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