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December 28, 2007

InfoSpace Completes $135M Sale of Mobile Business to Motricity

Motricity, a company that builds and runs mobile storefronts for carriers, said today it completed the $135 million acquisition of InfoSpace's mobile services business.

InfoSpace's mobile services unit provides the portal and search functions for AT&T and Verizon in the United States; Motricity offers a storefront, catalog, and other applications that enables its customers to offer ringtones, games, and other content on mobile devices.

InfoSpace, moving forward, will focus on growing its online search business, according to a statement from Jim Voelker, InfoSpace chief executive. InfoSpace's metasearch technology is used by other Web sites such as Dogpile and WebFetch.

Ryan Wuerch remains as Motricity's chairman and chief executive, while Steve Elfman, former executive vice president of InfoSpace's mobile services business unit, becomes Motricity's president and chief operating officer.

Posted by Anna Maria Virzi at December 28, 2007 6:04 PM

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