InfoSpace sells mobile services business to Motricity (USA)

Mobile content services provider Motricity has signed a definitive agreement to acquire the mobile services business division of InfoSpace, developer of mobile technology and infrastructure services, for around USD 135 million in cash. The deal is subject to regulatory approval and other customary closing conditions and is expected to close within 90 days. Upon closing, Steve Elfman, currently executive vice president of the InfoSpace mobile services business unit, will become President and Chief Operating Officer (COO) of Motricity. The InfoSpace business being sold provides managed services infrastructure for mobile carriers. The deal will make Motricity the leading provider of mobile content infrastructure services in North America.

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