LONDON (AFX) – Mobile Streams PLC has bought The Nickels Group, a California-based mobile content production company, for up to 690,000 usd.
The Nickels Group specialises in the licensing and distribution of urban music, and Mobile streams said the deal will "significantly strengthen (its) content generation and distribution business as well as providing a strategic foothold on the West coast of America."
Mobile Streams will fund the deal from existing cash flow, paying an initial 450,000 usd, of which The Nickels Group will use 100,000 to buy Mobile Streams shares.
A deferred sum of 240,000 usd will be payable over the next two years.
