A Spanish developer and marketer of entertainment products for mobile phones and the Internet could be looking for suitable acquisition targets in the UK.

A Spanish developer and marketer of entertainment products for mobile phones and the Internet could be looking for suitable acquisition targets in the UK.

Zed has secured €92.5 million (£73.2 million) of debt from five banks, which it will use to expand its business worldwide.

The company, which has a presence in 53 countries through more than 130 agreements with mobile networks, is to push forward with its acquisition programme designed to increase its influence in international markets.

The funding was provided by Banesto, BBVA, Banco de Sabadell, Caja Madrid and Internationale Nederlanden with the agreement expiring in 2013.

Zed founder and chief executive Javier Pérez Dolset said the arrangement gives a significant boost to the group’s mergers and acquisition policy. “The granting of this credit confirms that the market continues to support Zed’s growth policy, which in the past has shown its capacity to generate value through other significant corporate operations.”

The Madrid-based group already has operations throughout Europe as well as in China and the US.