Skyrockit Sells Assets To Mandalay Digital Group

San Francisco-based Skyrockit, a mobile entertainment studio backed by Intel Capital, Asuka DBJ Partners, and individual investors, has sold off its music label assets to Mandalay Digital Group. Financial terms of the sale were not disclosed. According to OTC traded Mandalay Digital, Intel Capital will become a shareholder of the company as part of the deal. The companies did not detail Skyrockit's future plans or operations.