Los Angeles - Mandalay Media, the parent company of mobile entertainment distributor Twistbox Entertainment, said on Monday that it has completed its $22.8 million acquisition of AMV Holding Limited, a European direct-to-consumer mobile content distributor.

Los Angeles-based Mandalay said it has also secured $4.5 million in new equity financing.

The company said it will integrate AMV with Twistbox, who together will employ over 200 people in seven countries, and reach a combined over 1.2 billion mobile devices.

"The acquisition of AMV allows us to almost triple our monthly mobile revenue while gaining the scale and profitability to be a worldwide force in the expansive mobile content arena," said Bruce Stein, CEO of Mandalay Media.

"Mobile is the first of several digital media businesses that Mandalay plans to build. The combination of Twistbox and AMV is a great example of what our team and platform is capable of creating in just eight months."

Related Links:
http://www.businesswire.com/news/home/20081027006004/en

http://www.mandalaymedia.com

http://www.amvholding.com

http://www.twistbox.com