June 21st, 2005 by Arjan Olsder Posted in Companies & M&A | No Comments »
Cybird Co., a Japanese provider of games, ring tones and other content for mobile phones, agreed to pay $60 million for a majority stake in closely held Airborne Entertainment Inc. to expand in North America.
Cybird said it will set up a U.S. subsidiary to acquire 85 percent of Montreal, Canada-based Airborne, which provides services similar to its own. The Japanese company said the purchase is part of plans to focus on North America, where it estimates the mobile-phone content market will more than double to $2.6 billion in fiscal 2005 from the year before. More …
