Cybird Agrees to Pay $60 Million for Airborne Stake

What's happening at Airborne? Everyone there is now rich, rich rich.

"Cybird Co., a Japanese provider of games, ring tones and other content for mobile phones, agreed to pay $60 million for a majority stake in closely held Airborne Entertainment Inc. to expand in North America.
Cybird said it will set up a U.S. subsidiary to acquire 85 percent of Montreal, Canada-based Airborne, which provides services similar to its own. The Japanese company said the purchase is part of plans to focus on North America, where it estimates the mobile-phone content market will more than double to $2.6 billion in fiscal 2005 from the year before. "

[Bloomberg]

Very profitable deal for Insight VP, who invested in Airborne last July. Read it here