Los Angeles - Twistbox Entertainment, a producer and publisher of mobile entertainment content, said on Thursday that it has agreed to merge with Mandalay Media, a development stage company.

Financial terms of the proposed transaction, which is expected to close in the first quarter of 2008, were not disclosed.

Under the terms, Twistbox would become a wholly-owned subsidiary of Mandalay, and continue to operate as usual under current CEO Ian Aaron.

Sherman Oaks, Calif.-based Twistbox provides mobile games, WAP sites and mobile TV channels to more than 100 operators in 40 countries.

The company raised $19.5 million in funding in September 2007, and early last year acquired InfoSpace's mobile games studio.

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http://www.twistbox.com