Mobile data firm iTouch, which is part-owned by Independent News & Media, has agreed to buy Finland's Jippii Mobile Entertainment in a deal worth €30 million.
The deal will involve a fixed payment of €12 million and an additional €18 million, payable in iTouch shares, depending on the financial performance of Jippii over a 12 month period.
Jippii's parent company Saunalahti said it will now focus on its Internet and telecommunications operations.
itouch's chief executive, Mr Wayne Pitout, said: "This acquisition represents a key strategic move for iTouch, providing direct access to important new markets in Eastern Europe, a leading position in Russia, Switzerland and Belgium, and a popular pan-European internet brand which will form the basis of our medium term mobile internet offering."
