Cybird Expands Overseas

Cybird Co., a Japanese provider of games, ring tones and other content for mobile phones, agreed to pay $60 million for a majority stake in closely held Airborne Entertainment Inc. to expand in North America. Cybird announced the acquisition in a release to the Tokyo Stock Exchange after the close of regular trading on Japanese markets. It plans to sign a contract on June 23, and receive the shares on June 30. 

Cybird said it will set up a U.S. subsidiary to acquire 85 percent of Montreal, Canada-based Airborne, which provides services similar to its own. The Japanese company said the purchase is part of plans to focus on North America, where it estimates the mobile-phone content market will more than double to $2.6 billion in fiscal 2005 from the year before. Continue >>