Motricity Won’t Comment on Report Firm Plans to Raise $175M for Acquisition

Motricity is talking about a report in Friday’s Triangle Business Journal that the company is in the process of raising $175 million as part of an effort to buy a business unit from InoSpace.

"I have no further comment at this time," a spokesperson told WRAL Local Tech Wire on Monday morning.

TBJ did not quote any officials from either Motricity or InfoSpace.

The unit Motricity is said to be pursuing is InfoSpace’s mobile content business. The acquisition is part of Motricity’s strategy to file for an initial public offering of stock, the newspaper added.

Motricity secured a $50-million investment from billionaire Carl Icahn earlier this year and raised $72 million in venture capital in 2006. Overall, the company has raised more than $200 million.