LaNetro Zed assumes control of MonsterMob

Spanish mobile content group LaNetro Zed announced it will take control of U.K. rival MonsterMob with a $66.5 million investment in the company. The deal gives LaNetro Zed a 52.6 percent majority ownership stake in MonsterMob, effectively enabling Zed to sidestep the formal takeover bid that was widely expected.

"The agreement with Zed secures the financial position of MonsterMob and brings significant strategic and operational benefits from an association with a partner which is a leader in mobile content and has matching and complementary product capability and global reach," MonsterMob chairman Hans Snook said in a prepared statement. "It will give us the flexibility to take advantage of the growth opportunities within the fast moving industry in which we operate."

For more on the LaNetro Zed/MonsterMob deal:
- read this Cellular-News article