Return to search

Motricity Buying InfoSpace Mobile Biz

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