The deal that everyone has been expecting will be confirmed this week.
We've been asking Player X when the deal would be made public for weeks, only for The Times to report it over the weekend.
An official statement is expected shortly.
Observers believe Zed's ambitions in the 'B2O' space (business-to-operator) is the reason for this new purchase, since Player X's background in games and video aggregation has given it close and widespread relationships with operators, including O2 UK.
Zed has publicly stated its desire to win content outsourcing deals from operators as it seeks to evolve away from its D2C roots.
Spain's Zed grew fast during the ringtone boom and stayed ahead of the curve when that market bubble burst by purchasing rivals (including Monstermob) and diversifying into social media services.
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Player X was founded in 2004 by former Digital Bridges head of sales Tony Pearce. It quickly established itself as a games aggregator to operators and portals, but also diversified into video content and QA services.
Player X's content catalogue will also interest Zed, which traditionally focused on original in-house IP but has recently begun licensing content via partners such as Lionsgate, NBA and Universal.
