LONDON--(BUSINESS WIRE)--LaNetro Zed is pleased to announce that at today’s EGM of MonsterMob’s shareholders, its offer of £34 million to acquire a majority shareholding in MonsterMob Group PLC (LSE:MOB) has been approved with 83% of the votes in favour. The agreement will mean LaNetro Zed and Monstermob will together become the largest company in the Mobile Value-Added Services (MVAS) market in terms of revenue. The enlarged company is now operating in 31 countries around the world employing 1,200 staff.
Spanish multinational Zed has been one of the leading players in the global MVAS market over the last three years whilst MonsterMob has built a strong portfolio of businesses across the world’s largest and highest growth markets. Zed has recently invested over Euro 50 million in the development of the world’s first internet 2.0-based platform, bringing user-generated content, social networking and communication tools to a new integrated mobile and PC environment. Together the two companies will dominate a global industry.
Under the terms of the deal, Zed is to subscribe for £34 million of new Ordinary Shares in MonsterMob at a price of 50 pence per share. This will result in the issue of 68,000,000 new Ordinary Shares in MonsterMob, currently equivalent to approximately 52.6% of the ordinary share capital of MonsterMob, enlarged by the issue of Ordinary Shares to Zed.
Commenting on today’s shareholder vote, Javier Perez Dolset, Chairman and Chief Executive of Zed, said:
“Today’s decision is testament to the strength of our reputation and established track record for being one of the leading global players and innovators in this industry. MonsterMob’s shareholders have recognised that LaNetro Zed’s offer is best placed to move the business forward, for the benefit of all shareholders, from a firmer financial foundation. 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.”
About LaNetro Zed
Zed, the Spanish multinational, develops and markets entertainment and community products and services for mobile phones and internet. The company is a pioneer in leisure time information services for the web and is one of the leading mobile value-added players with presence in 16 countries across 4 continents, including Europe’s largest markets, USA and China.
Founded in 1996, the company’s history is characterised by the ongoing development of innovative services in the entertainment and leisure arena, and it remains at the forefront of the industry.
MonsterMob is a global media and entertainment company which specialises in the sale of mobile telephone entertainment content and services. It is the UK's best selling mobile content brand, with an unrivalled track record in sms response generation. MonsterMob is now developing and delivering unique mobile content including video on demand, interactive communities, real-music ring tones, high res personalisable graphics and superior java games to provide effective differentiation for service providers, retailers and handset distributors. Since the foundation of the company in June 2000, MonsterMob has handled over 20 million transactions, delivering products and services to more than 6 million consumers.