BELLEVUE, Wash.-Wireless Internet company InfoSpace Inc. continued its acquisition spree with the purchase of German wireless gaming company Elkware GmbH for $26 million in cash. Infospace said Elkware managed $1 million in revenues in its previous quarter.
“We are excited about expanding our presence in the European mobile market,” said Jim Voelker, chairman and chief executive officer of InfoSpace. “Elkware’s interactive, role-playing games and successful strategy titles are a great complement to our casual games from Iomo and growing slate of multiplayer tournament games for prizes. Together we will be able to leverage our products, technology and broad distribution with mobile operators to reach mobile subscribers around the world.”
The acquisition marks InfoSpace’s third mobile gaming acquisition this year, including Iomo and Atlas Mobile.
Separately, asset tracking company @Road Inc. announced it purchased field service automation company Vidus Ltd. The company said the move would expand its product offerings as well as its addressable market.
“Our customers and prospects, especially our large customers and prospects, have been asking for an integrated mobile resource management solution that allows them to manage both mobile workers and their work,” said Krish Panu, the company’s president and CEO. “We believe that the complementary integration of the two companies’ products and services will allow us to offer a dynamic mobile resource management solution to manage both mobile workers and their work.”
Under the terms of the agreement, @Road will issue 5.6 million shares of its common stock and newly created interest-bearing redeemable preferred stock of $10 million and will forgive debt of $4.4 million, in exchange for all of Vidus’ stock.
