 M Dream is China's largest maker of mobile phone games |
Mobile phone games and ringtones firm Monstermob has agreed to buy Chinese company M Dream for up to �20m ($35m). Lancashire-based Monstermob said it intended to use M Dream, China's largest maker of games for mobile phones, to develop its new titles.
It added that it expected the �20m to be paid predominantly through new Monstermob shares.
Fast-growing Monstermob was founded in 2000 and now operates in 25 countries, with 13 million monthly subscribers.
Global ambition
It first moved into China last August when it purchased Chinese mobile phone ringtones and pictures provider ATOP Century for �56m.
M Dream develops around 15 of its own games a month and is based in Hangzhou, south east China.
Monstermob chief executive Martin Higginson said recently that he was pleased with the firm's growth rate.
"We set our stall out to become a global player and now we are happy to say we have reached that goal," he said.
One-Minute World News 
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