Motricity will pay an initial $100m in cash and potentially shares with up to a further $50m in performance fees based on targets for the next 12 months for Adenyo.
Motricity, a Nasdaq-listed provider of mobile software backed by two strategic investors, has agreed to buy Adenyo, a Canada-based provider of mobile marketing, advertising and analysis.
Motricity will pay an initial $100m in cash and potentially shares with up to a further $50m in performance fees based on targets for the next 12 months.
News provider PEHub.com said Motricity had raised more than $365m in venture funding including from two corporate venturing units, Intel Capital and Qualcomm Ventures, before its flotation in June.
