Madrid-based mobile entertainment and networking company Zed has taken a big €92.5 million ($143.8 million) loan to fund mergers and acquisitions. CEO Javier Pérez Dolset: “The main objective of this loan is to finance the expansion plans of the company and give a significant boost to our mergers and acquisition policy. The granting of this credit confirms that the market continues to support Zed’s growth policy.” The loan comes from four spanish banks and one Dutch - Banesto (€25 million), BBVA (€20 million), Banco de Sabadell (€15 million), Caja Madrid (€7.5M million) and ING (€25 million).

SEE ALSO: Zed Releases Some Financials; Reports Revs Of $545 Million In 2007

Zed’s array of products offer blogging, UGC; games through its Play Wireless unit; and Second Life-like virtual reality. It bought British mobile ringtone specialist MonsterMob Group last year, when it also announced it wanted to raise €54.6 million ($84.9 million) in investment. It subsequently raised a sum of an undisclosed size from VSS. Why it’s raised this sum through loan rather than further investment isn’t clear, but the release frames it like this: “The market continues to support Zed’s growth policy despite the tough economic climate.”