[Techtaffy Newsdesk]

Mandalay Digital Group has signed a definitive agreement to acquire the music label assets of mobile entertainment studio Skyrockit, an Intel Capital portfolio company. Intel Capital will become a shareholder of Mandalay Digital Group.

At the close of this transaction, Mandalay Digital Group will become an Intel Capital portfolio company.

Mandalay Digital Group is a global media and communications company with distribution partnerships that span over 70 carriers in 28 countries.  The company provides a suite of mobile technology and services to operators and third-party publishers.