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Last Updated: Friday, 20 January 2006, 10:58 GMT
Monstermob buys China games firm
Still from one of M Dream games
M Dream is China's largest maker of mobile phone games
Mobile phone games and ringtones firm Monstermob has agreed to buy Chinese company M Dream for up to 20m ($35m).

Lancashire-based Monstermob said it intended to use M Dream, China's largest maker of games for mobile phones, to develop its new titles.

It added that it expected the 20m to be paid predominantly through new Monstermob shares.

Fast-growing Monstermob was founded in 2000 and now operates in 25 countries, with 13 million monthly subscribers.

Global ambition

It first moved into China last August when it purchased Chinese mobile phone ringtones and pictures provider ATOP Century for 56m.

M Dream develops around 15 of its own games a month and is based in Hangzhou, south east China.

Monstermob chief executive Martin Higginson said recently that he was pleased with the firm's growth rate.

"We set our stall out to become a global player and now we are happy to say we have reached that goal," he said.

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