MonsterMob Buys Russian Content Provider Mobicon For $27 Million

UK mobile content biggie Monstermob continues on its international expansion and acquisition route: it has bought out Russian mobile content provider Mobicon for $27 million.
The deal will be 3.5 times Mobicon’s earnings for the two years to the end of December 2007. Monstermob said Russia’s Mobicon made sales of around $15 million in the year ended October.
MonsterMob will initially pay $5m in cash and another $5m in new shares in two equal tranches – the first when the deal is closed and the second six months later.
The deal enables MonsterMob to enter the world’s third largest mobile phone market with 100m users.
Reuters: In August, the firm bought Chinese content provider ATOP Century for around $100 million, just two months after the AIM-listed firm raised 20 million pounds ($35 million) in a share placing aimed at raising cash to help fund overseas growth.
More details in the press release here

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