Madrid-based mobile entertainment and networking company Zed took a €92.5 million ($143.8 million) loan in August to fund M&A. Now the first fruit of that deal is its acquisition of French Flash mobile games maker Mobitween, which it’s buying for an undisclosed amount.

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Zed says Java and Brew, on which most mobile games are built, “require significant resource to port each game or application to a growing number of mobile handsets” but that Flash Lite “will become a prevailing technology platform for games for handheld devices as it has established itself as the defacto standard in the online world”.

Mobitween has over 100 in-house games and distribution arrangements with carriers including Orange and Verizon (NYSE: VZ). It launched its own Ugengames portal, which, because the games are in Flash Lite, lets users play them on the desktop web. Its Mobigamz service is a mobile app offering access to the games portfolio as well as games reviews and ratings.