GoTV Networks Buys Some Assets Of Hands-On Mobile For Stock
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GoTV Networks, an Los Angeles-based mobile video company, has bought a handful of assets from Hands-On Mobile.
SEE ALSO: Hands-On Mobile Has More Layoffs Coming This Week
The new chapter for Hands-On Mobile must be a bit of a let down after once being the fourth largest U.S. mobile game publisher. The company had raised more than $100 million in venture capital and had aspired to go public, but more recently, was forced to scale back its operations, including a couple of rounds of layoffs and the departure of two consecutive CEOs. Both companies have long histories in mobile stretching back to the days when feature phones and carrier partnerships were the golden ticket.
GoTV Networks, which has focused on made-for-mobile video channels, is acquiring Hands-On’s HOMBRE division, which includes applications, client and server technologies and patents. The division’s employees will join GoTV and continue to be located in San Francisco with a technology lab in San Diego. It’s unclear if any cash exchanged hands, but in a release, the two companies said Hands-On will also receive an equity stake in GoTV Networks. In a release, GoTV’s CEO Thomas Ellsworth said: “The HOMBRE division of Hands-On Mobile has delivered an exceptional library of products for top-tier brands and media partners including the Oprah Winfrey Network, Sprint (NYSE: S), NASCAR, Verizon Wireless and the NFL.” The acquired applications include: Oprah Mobile, NASCAR Sprint Mobile, Sprint Football Live, Verizon NFL Draft, ESPN (NYSE: DIS) and NBA Multimedia.
It’s unclear what will remain at Hands-On Mobile, but its game and applications units operated fairly separately. Mobile games in its catalog include Guitar Hero III and World Poker Tour.
Posted In: Entertainment, Games, Mobile, Money, M&A & Venture Capital, Mergers & Acquisitions, gotv networks, hands-on mobile
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