OTTAWA—Canadian mobile data company ZIM said it will pay $1.1 million in cash and stock to acquire U.S.-based content provider Advanced Internet Services Inc.
ZIM hopes to use the acquisition as an “immediate entry” point to the mobile content market. AIS was founded in 2002 as a subsidiary of Advanced Telecom Services and operates popular storefronts for mobile content including Monstertones.com and ringingphone.com.
The deal is expected to close by the end of the week.
Shares of ZIM inched upward on the news, climbing a cent to 7 cents per share on the Over-The-Counter Bulletin Board.
