Monstermob snaps up Chinese game group

The purchase, announced yesterday, marks its second acquisition in the country after a £55m deal to buy the content group ATOP Century in September. Monstermob admitted earn-out clauses for M Dream management, who will stay on, could take the cost of the acquisition to $80m. Martin Higginson, Monstermob's chief executive, said the group was looking for further deals in China, Latin America and India.

Monstermob's European business took a hit recently after the controversy of misleading marketing of ringtones caused by its rival Jamster's Crazy Frog.

China is the world's largest mobile phone market, with 335 million users. But only a quarter of Chinese own a mobile phone.

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