Bellevue-based Motricity announced today that it’s buying Adenyo, a Canadian mobile ad company with reach in Europe and a blue-chip client list, including Ford, McDonald’s, Coca-Cola and Paramount Pictures.
Motricity’s paying $100 million – at least half in cash – and may pay up to $50 million more over the next year, depending on Adenyo’s financial performance.
Toronto-based Adenyo had 2010 sales of around $20 million, according to Motricity’s release.
Adenyo provides highly targeted mobile advertising and analytics. Its technology will be rolled into Motricity’s mCore Platform, the company said.
“Adenyo’s technology, mobile marketing and advertising expertise and their long-standing relationships with powerful enterprise customers will significantly strengthen our position in the mobile data services ecosystem,” Motricity Chief Executive Ryan Wuerch said in the release.
Motricity’s up about 2.5 percent to $19.84 this morning. More details will be provided by the company during a 2 p.m. conference call.