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UK/SPAIN - Nordic Venture and LongAcre divest Player X

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Nordic Venture Partners and LongAcre Partners backed entertainment company Player X has been acquired by Spanish mobile content and service provider Zed Group (formerly La Netro Zed), owned by US private equity firm Veronis Suhler Stevenson (VSS). The terms of the deal were not disclosed.

In July 2007, Nordic Venture Partners and Long Acre Partners led a £5m series-B round in mobile media company Player X. Arts Alliance also participated in the funding round, having provided the company with its first round of institutional investment in October 2005, alongside Bullion International, a company founded by Benchmark Capital's Ynon Kreiz. In early 2007, VSS acquired Zed Group from Apax Partners, iNova Capital and the Dolset family for an undisclosed amount.

Player X develops, publishes and distributes mobile entertainment content through global operators, portals and handset manufacturers. In December 2006, it launched a mobile TV channel geekTV with UK operator 3 UK. The company was founded in 2004, has offices in Shanghai, Orlando, Hamburg, Madrid, Lyon and Rio de Janeiro and employs 35 staff.

Player X complements Zed's offering by adding its expertise as a publisher and aggregator.

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