Twistbox, the mobile entertainment firm which is owned by OTC-traded Mandalay Media, is in the process of buying out European mobile content firm AMV Holding. For now, this is an LOI stage, and may not necessarily go through. AMV, founded in 2004, has brands such as Bling, Phonebar and GameZone.

Mandalay tried to buy Green Screen Interactive Software earlier this year, but canceled its plans later.