LONDON-iTouch Plc has signed an agreement with Japanese rival For-Side.com Co. Ltd. to expand its offerings, the British mobile content provider announced Wednesday.
The partnership allows iTouch to expand its database of ringtones, games and wallpaper for next-generation mobile phones. iTouch hopes the deal will give it an advantage over its Western competitors, whose development often lags behind Japan and Korea.
As part of the deal, For-Side will buy 18.25 million shares of iTouch, or 4.7 percent of the company, for about $9.7 million. iTouch shares were reportedly up 1.8 percent on news of the agreement.
