Jesta Group has acquired Fox Mobile Group (FMG) from News Corp. The operation, which includes such brands as Jamba, Jamster, Mobizzo, iLove and Bitbop, will renamed and incorporated into Jesta Media Holdings.
No terms of the deal were disclosed. Allen & Company acted as the financial advisor to News Corp. on the transaction.
"We believe that mobile entertainment is an important emerging market and we are excited about this acquisition and the opportunities for growth it presents," said Jason Aintabi, president of Jesta Group in a statement. "FMG's unique ten-year history in mobile entertainment services; its stature as a trusted partner with carriers and device manufacturers; and its many successful consumer brands gives it a clear advantage in this rapidly developing sector. We look forward to working with the many talented and dedicated global employees of FMG and to a very bright future for the company and its brands."
Mard Anderson, COO of FMG added in a statement: We are all very excited to grow this business under Jesta Group's leadership and to build upon the solid base established under News Corp.'s stewardship."
