Motricity Raises $185 Million, Acquires InfoSpace Unit

Authored by Mark Hefflinger on January 3, 2008 - 8:04am.

Durham, N.C. - Motricity, a provider of mobile content services, announced that it has raised $185 million in a round of venture capital, which was led by Advanced Equities, Carl Icahn and New Enterprise Associates.

In connection with the funding, Motricity has acquired the mobile services business unit of InfoSpace for $135 million.

Motricity said that the acquisition expands its 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.

Ryan Wuerch will remain as chairman and CEO of Motricity, while Steve Elfman, former executive vice president of InfoSpace's mobile services business unit, has been named president and COO of Motricity, the company announced.