Zamano, a mobile phone data services provider, has bought Eirborne Text Promotions, an Irish mobile content company with operations in the UK and Australia.

The value of the deal has been capped at euro8.5 million (£5.8 million), with euro1.7 million (£1.1 million) paid on completion in cash and more than 1.1 million shares. The terms of the agreement include a deferred payment, which is conditional upon performance.

Eirborne, which has a range of mobile entertainment services such as music, video, comedy and gaming, was sold by Gerard O’Keeffe and Paul Coyle some five years after establishing the business. They remain with the company post-completion.  

Zamano was advised by Ernst & Young while the vendors were advised by OSK Accountants.