Monstermob Buys 9 Squared

Monstermob Group acquires mobile content provider 9 Squared for $2.95M in cash and 22M shares to be paid on completion

September 1, 2004

2 Min Read

DENVER, Colo. -- 9 Squared, Inc., a leading mobile content provider, today announced the agreement for acquisition by British company Monstermob Group, the provider of entertainment content for mobile phones, effective immediately. Monstermob paid $2,949,563 cash upfront for 100% of the share capital of 9 Squared Inc. on August 25, plus a maximum deferred consideration of 22,017,856 Monstermob shares to be paid on completion on 1 March 2005. The deferred amount is dependent on 9 Squared's fourth-quarter financial performance.

"The Monstermob deal provides 9 Squared with significant resources and experience to solidify our vision of being a worldwide mobile content player," said James Eberhard, CEO and Founder, 9 Squared. "We're recently launched products in Latin America and Asia, and needed a partner like Monstermob to enter the explosive Western European market."

Based in Denver, 9 Squared has established a recognized brand name with its highly successful direct to consumer website, www.ringtonejukebox.com, and provides mobile entertainment products and services to various leading US and international mobile network operators on the Code Division Multiple Access ("CDMA") technology platform under the RingTone JukeBox(tm), mTat2(tm) and Great American Country(r) brand names. In addition to ringtones, 9 Squared provides other mobile content such as phone games and wallpapers.

9 Squared has created a catalog of more than 6,000 pieces of mobile content through negotiations with more than 275 music publishers, record labels, game developers, image providers and film studios.

"Our acquisition of 9 Squared, a company that has proven success in the US, Latin America and Asia, represents an important step toward establishing Monstermob as the #1 mobile content provider globally," said Martin Higginson, CEO, Monstermob. "With the addition of 9 Squared, Monstermob will respectively provide mobile entertainment applications directly to consumers and through mobile network operators throughout our operating territories in Europe, North and South America and Asia."

Monstermob Group plc

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