Motricity acquires mobile marketer Adenyo for $100 million

Mobile content solutions provider Motricity will acquire mobile marketing software platform provider Adenyo for $100 million. Cash will make up a minimum of 50 percent of the initial consideration, with cash, common stock or a combination of the two making up the other half based on Adenyo's financial performance during the 12 months following the transaction's close.

The Adenyo platform promises enterprises, brands, media companies, advertising agencies and mobile operators a channel to deliver highly targeted mobile marketing and advertising campaigns--partners include McDonald's, Coca-Cola, Ford Motor Company, Paramount Pictures, Garnier and Bouygues Telecom. The acquisition is expected to close by the end of Q1 2011--according to Motricity, the deal will enhance its efforts to offer operators and enterprise customers a full range of mobile data service solutions across its cloud-based managed service platform.

Last week, Motricity filed an application with the Securities and Exchange Commission to withdraw a proposed secondary stock offering. In mid-December 2010, Motricity said it would sell shares of common stock currently held by certain pre-IPO investors following a registration notice received from Koala Holding LP, an entity controlled by financier and corporate raider Carl Icahn, who retains an 18.5 percent beneficial ownership interest in Motricity. Icahn decided not to sell his stake.

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