More consolidation in old school content sector.
Although AMV's full name is American Mobile Ventures, it is actually based in the UK. It was previously owned by the US-based Mandalay Media, which bought the firm in 2008 for $22 million but then sold it back to the founders in July 2010.
AMV runs a range of WAP sites across 14 markets selling ringtones, wallpapers and the like. These properties include Bling, Free4U, Mobile Mayhem, PlayON mobile jukebox and Free Date.
It paid an undisclosed sum for UK-based K2, which will now focus on its Big Chilli music service, which offers full-track downloads.
The site has had 250,000 downloads since its launch in March 2010.
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