August 2004

Situation

To assist Monstermob in its rapid expansion to become one of the leading global mobile entertainment providers, agnitio were retained on an ongoing basis to help define and execute Monstermob's M&A strategy. agnitio originated, structured, negotiated and successfully executed the acquisition of 9 Squared Inc., one of the leading US branded mobile entertainment players that directly provides its applications to network operators across the US, Latin America and Asia.

Approach

Based upon agnitio's deep insight into the global mobile entertainment sector, a number of global acquisition candidates were identified by agnitio. Based upon the growth prospects, revenues and profitability, and complementarity of each candidate, 9 Squared was ranked as one of the highest targets. agnitio originated the acquisition of 9 Squared on behalf of Monstermob and provided the acquisition rationale in a Board Summary Paper for the transaction which received approval by Monstermob's Board. agnitio was then instructed to structure and negotiate the transaction on behalf of Monstermob.

Transaction

Monstermob acquired 100% of the share capital of 9 Squared for an upfront cash consideration of $2,949,563 plus a deferred consideration, which was paid on 21 March 2005, through the issuance of 5,525,000 new Monstermob shares which at the time were worth £16.9 million.