Monday, January 31, 2011

Motricity Buys Adenyo For Up To $150M

Bellevue-based Motricity announced this morning that it is acquiring Adenyo, a provider of mobile marketing, advertising and analytics. Motrcitiy said it would pay $100M in cash and shares of Motricity's common stock, plus up to $50M in earn out depending on Adenyo's financial performance. Adenyo had 2010 revenues of approximately $20M, according to Motricity. Adenyo's customers include McDonald's, Coca-Cola, Ford Motor Company, Paramount Pictures, Garnier, Omnicom Media Group and Bouygues Telecom.