DURHAM, NC—Motricity, which sells mobile content and software, has closed on a $185 million funding round led by Advanced Euities Inc., Carl Icahn and New Enterprise Associates.
The company raised the money to finance its previously announced $135 million buy of the mobile services business unit of InfoSpace Inc. (Nasdaq:INSP), which it has completed.
Ryan Wuerch remains chairman and CEO of Motricity while Steve Elfman, former executive vice president of InfoSpace’s mobile services business unit, has been named president and chief operating officer of Motricity.
The acquisition expands Motricity’s customer base to include 11 of the top 13 carriers in North America including AT&T, Verizon Wireless, Sprint, T-Mobile, Bell Mobility, Tracfone and Alltel.
Motricity now powers 5 of the top 6 carrier “start screens” with its mobile portal product which will support billions of page views this year alone. The transaction enhances Motricity’s FuelTM platform, which is a unified suite of solutions that includes content storefront, portal, search, community and messaging services. In addition, it expands Motricity’s international presence by adding offices in the U.K., Paris, and the Netherlands and leading customers throughout Europe including Virgin UK, KPN and Vodafone.
Motricity previously raised more than $200 million in venture capital since its founding, including $50 million from Carl Icahn in February. No other venture backed firm in the Research Triangle has raised a similar amount since the now defunct Buildnet, which raised $140 million during the Internet boom years.
“Two of the best companies in the industry are now being integrated to create the premier provider of mobile platform infrastructure,” said Ryan Wuerch, chairman and CEO of Motricity.
“We have unparalleled experience in mobile platform development, systems integration, innovation and building world class technology with a proven ability to scale – powering the mobile marketplace including the largest operators and media companies in North America and Europe.”
On the Web: www.mortricity.com
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