Mobile Entertainment Company Twistbox Entertainment Announces Merger
Tweet1/3/08 – Twistbox Entertainment, a mobile entertainment company based in Sherman Oaks, has announced that it has agreed to merge with Mandalay Media, Inc. The companies say that pursuant to the proposed merger, Twistbox will become a wholly-owned subsidiary of Mandalay, and the shareholders of Twistbox will receive shares of common stock in Mandalay.
If the transaction is completed, Twistbox will become Mandalay’s sole current operations and continue to operate as usual across its subsidiaries and territories, according to the companies. Twistbox CEO Ian Aaron will be appointed to Mandalay’s board of directors and continue as CEO of the Twistbox business.
The companies expect the transaction to close during the first quarter of 2008.
Since its founding in 2006, Twistbox has signed distribution agreements with more than 100 mobile operators in 40 countries, and says it provides its entertainment content to more than 1.1 billion subscribers worldwide through games, WAP sites and mobile TV channels. The company was formed by the combination of WAAT Media and Charismatix.
Twistbox Entertainment – www.twistbox.com
------------------------------------------------------------
**StartUp Beat Thanks Its Sponsors:
