| FunMobility Strengthens its Media Offerings by Acquiring InfoSpace Media Studio FunMobility will continue to leverage the InfoSpace Mobile Data Services Platform |
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| Pleasanton, CA - June 11, 2007 - FunMobility, a leading provider of innovative wireless community and media services, announced today the acquisition of InfoSpace Media Studios (formerly Moviso), a leading provider and publisher of mobile content and applications. The acquisition will provide FunMobility with one of the largest mobile content libraries in the world. InfoSpace (Nasdaq:INSP) formed the business unit after the acquisition of Moviso LLC from media conglomerate Vivendi Universal in 2003. “This acquisition is complementary to FunMobility’s strategy of providing end-to-end mobile media solutions to our carrier partners,” said Adam Lavine, CEO of FunMobility. “We’re also very excited about the InfoSpace Media Studio team, who are veterans of the mobile media industry, and bring a tremendous amount of experience and energy to FunMobility.” The companies’ media footprints are complementary, with both companies enjoying strong market penetration in mobile music, graphics, applications and community services. Under the terms of the agreement, FunMobility will license InfoSpace’s Mobile Data Services Platform that delivers mobile storefront capability for media content downloads. “I am pleased to team up with FunMobility and extend our Mobile Data Services Platform to support them and our mutual carrier customers,” said Steve Elfman, executive vice president of InfoSpace’s mobile division. “We look forward to extending our relationship with FunMobility to enable their digital media solutions.” InfoSpace Media Studio’s located in Los Angeles will be fully integrated into FunMobility headquarters in Pleasanton, California. The Media Studio will be led by Ken Nowak, who will become Vice President and General Manager of the new FunMobility Media Studio. “We’re excited to be part of the FunMobility team! We have a great opportunity to combine our mobile assets and industry knowledge with FunMobility’s mobile application expertise to fully leverage our combined media library,” said Nowak. After the acquisition, FunMobility will have approximately 120 employees between the Los Angeles and Pleasanton offices. |
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About FunMobility, Inc.
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