Motricity Inc (MOTR.O) agreed to buy Adenyo, a mobile marketing software firm, for an initial $100 million in cash and stock, to strengthen its foothold in the mobile data services industry. Privately-held Adenyo, which helps target consumers through mobile marketing and advertising campaigns, operates in North America and Europe, and reported 2010 unaudited revenue of $20 million. Its customers include McDonald's Corp (MCD.N), Coca Cola Co (KO.N) and Ford Motor (F.N), and Motricity Chief Executive Ryan Wuerch said its longstanding relationships with powerful enterprise customers will significantly strengthen his company.
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