InfoSpace is making a two-way push: on one hand is its renewed search/directory business, riding the search boom, and another is its more traditional wireless business. It has grabbed the bull by the horns by announcing the acquisition of mobile content application developer Moviso from Vivendi Universal Net USA for $25 million in cash.
In the third quarter of 2003, Moviso generated more than $3 million in revenue and was close to break-even on an operating basis, according to the company statement.
Seattle P-I: The 64-member company will remain in Los Angeles, although no decisions have been made on layoffs.
For an overview of the evolution of Moviso from a single ringtones vendor into a full service company, read this timely story in RCR: “Moviso evolves from simply ring tones“.
InfoSpace is also looking to sell its online payments division, Authorize.net…it has hired Thomas Weisel Partners to find a buyer or investor for its Payment Solutions division, which provides credit-card payment processing to more than 83,000 small and medium-sized Web-based businesses. The division generated $6.6 million in revenue during the quarter ended June 30, and had income of $1.3 million, InfoSpace said.
Related:
– InfoSpace Relaunches As Yellow Pages
– Turnaround at InfoSpace
– InfoSpace Mobile Introduces Modalyst Platform
– Moviso Ties Up With BMG To Promote Artists Through Retail Cards
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