Motricity’s Possibly Buying InfoSpace’s Mobile Unit; Raising $175 Million; The Elusive IPO

From MocoNews.net: We have been hearing rumors over the last two months, first on InfoSpace (NSDQ: INSP) buying mobile content infrastructure company Motricity, and then the other way around: Motricity buying INSP’s mobile’s division. Now Triangle Business Journal reports that the second deal is about the happen, that is Motricity will be buying InfoSpace’s mobile business, in a bid to strengthen its chances of filing for its long elusive IPO later this year. Also, The Durham, NC-based company is finishing up the process of raising as much as $175 million from the private markets for the acquisition. I expect InfoSpace to keep its mobile search division and sell the mobile infrastructure division only…more here.

Comments have been disabled for this post