Mandalay Digital Buys Assets From Skyrockit

Los Angeles-based Mandalay Digital Group, a provider of mobile data services, said today that it has acquired the music label assets of Skyrockit, a venture-backed mobile entertainment studio providing content to AT&T Mobility, Sprint, T-Mobile, and Verizon Wireless. Financial details of the buy were not disclosed. Skyrockit was venture backed by Intel Capital, Asuka DBJ Partners, and others. Mandalay Digital--which trades OTC--said that as part of the deal, it becomes a portfolio company of Intel Capital, and that Intel Capital will become a shareholder of Mandalay Digital.