Friday, December 28, 2007

Infospace Closes Sale of Mobile Services Business

Bellevue-based InfoSpace said Friday that it has completed the sale of its mobile services business to Motricity. The deal was worth $135M in cash. The deal was originally announced in October. InfoSpace said earlier that it is looking to return a significant amount of the proceeds of the sale to shareholders. InfoSpace was advised by Credit Suisse Securities and Wilson Sonsini Goodrich & Rosati in the deal. Motricity is based in Durham, North Carolina.