Will there be a bidding war?
From BizJournals Motricity in talks to make $340m deal
This story was posted on Friday March 17, 2006.
Several sources say New Enterprise Associates, a Silicon Valley-based venture capital concern, is working with Motricity to structure a $340 million buyout of M-Qube Inc., a Masschusetts-based supplier of wireless features run by Jeffrey Glass.
Motricity, which is headed by CEO Ryan Wuerch, plans to pay for the acquisition with $200 million in cash and $140 million in preferred stock. Sources say negotiations are almost final, but the price tag could go even higher and touch $400 million.
Motricity sells the plumbing necessary for cell-phone users to download music and games. By buying M-Qube, it would gain access to customers such as CBS Corp. that use M-Qube's technology to transmit news clips and alerts on cell-phone screens.
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