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.

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.

• Zed Takes $143 Million Loan To Fund M&A