Earlier this month Neomobile, an Italian mobile entertainment company, raised $13.5 million and today it confirms plans to buy Spain’s Arena Mobile, a company focused on mobile content. Neomobile sells content directly to consumers, whereas Arena Mobile, founded in 2001, works on the business level, partnering with more than 150 operators and media players in 70 countries. Arena is headquartered in Spain, but has operations in Brazil, Mexico, France, UK, Portugal, Morocco, India, Singapore and Bangladesh, the U.S., China and Japan. The two companies did not provides details of the transaction, but said together the two will have 2008 revenues of about 40 million euros ($51.4 million) and a workforce of 200 employees.

• Italian Mobile Entertainment Company Neomobile Raises $13.5 Million