London - LaNetro Zed, a Spain-based distributor of entertainment content on digital and mobile platforms, announced on Friday that it has paid $66.7 million for a 52% stake in U.K.-based mobile entertainment publisher MonsterMob.

Some 83% of MonsterMob shareholders voted to approve the offer from LaNetro; a separate, unsolicited offer to acquire MonsterMob outright for $77.9 million was also advanced by China's Linktone.

In connection with the deal, Zed has dismissed MonsterMob chairman Hans Snook, CEO Niccolo De Masi and CFO David Marks.

"MonsterMob's shareholders have recognized that LaNetro Zed's offer is best placed to move the business forward, for the benefit of all shareholders, from a firmer financial foundation," said Zed chairman and CEO Javier Perez Dolset.

"This is a strategically important investment for LaNetro Zed as it will allow us to exploit opportunities in markets where MonsterMob has built a strong business including China, USA, Russia and the UK."

Since launching in June 2000, MonsterMob has handled over 20 million transactions for more than 6 million mobile customers.

The enlarged company will now operate in 31 countries with a staff of 1,200.

Related Links:
http://tinyurl.com/yu6enu

http://tinyurl.com/ywkml8 (Reuters)

http://www.lanetrozed.com

http://www.monstermob.com