LANCASTER, U.K.-Monstermob Group plc said it plans to spend $27 million to acquire Mobicon, a Russian wireless content provider.
U.K.-based Monstermob, which sells mobile game, images and ringtones, is looking to move into the Russian market after expanding both to the East and West in the last 18 months. The 5-year-old company bought Denver-based mobile music provider 9 Squared last year, and bought out content providers in mainland Southeast Asia and the Philippines.
In August, Monstermob bought Chinese content provider ATOP Century for about $100 million.
Monstermob, which has relationships with 35 operators in 18 countries, said Mobicon netted $15 million in a 10-month stretch ending in October. The company cited Russia’s strong handset penetration levels and network growth opportunities as driving factors in the acquisition.
“We look forward to working with the Mobicon team and assisting them in delivering their growth ambitions,” said Martin Higginson, Monstermob’s chief executive officer. “We remain committed to obtaining leading market positions in emerging markets where enormous potential exists and are actively pursuing a number of further opportunities.”
