Ringtone firm in new Chinese deal

Monstermob provides a range of services to mobile phones

Mobile phone games and ringtones firm Monstermob has entered a deal to buy W-Infinity Communications, a provider of mobile content services in China.

Lancashire-based Monstermob, which operates in 25 countries, will pay $81.5m (£46.5m) in new Monstermob shares and loan notes.

It agreed in January to buy Chinese firm M Dream for up to £20m, but now is easing off from acquisitions, it says.

Last week Monstermob said annual group revenues were up 103% to £35.6m.

However, it warned that UK profits would be lower this year due to new regulatory controls restricting subscription services.