InfoSpace Inc. (Nasdaq: INSP) has agreed to sell its mobile services business to Motricity Inc., a Durham, N.C.-based provider of mobile marketplace management solutions. The deal is valued at $135 million in cash, and is expected to close within the next 90 days. Credit Suisse Securities is advising InfoSpace on the deal.
Motricity has raised around $180 million in venture capital funding, from Carl Icahn, Technology Crossover Ventures, New Enterprise Associates, Massey-Burch Capital, Noro-Moseley Partners, Intel Capital, Qualcomm Ventures, Sienna Ventures, TriState Investment Group, Wakefield Group and Advanced Equities. www.infospace.com www.motricity.com
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.