Privately held Good Technology Inc. has acquired five-year-old San Diego-based social networking startup Intercasting Corp. for an undisclosed sum.
The addition of Intercasting's social media aggregation tools for mobile phones promises to help Redwood, Calif.-based Good Technologies expand beyond business-related phone applications. Intercasting's Anthem allows users to access Facebook, Twitter and MySpace via mobile phones. Carriers using Anthem include AT&T Inc. (NYSE:T), Verizon Wireless, Sprint Nextel Corp. (NYSE:S) and T-Mobile. In addition to Anthem, Intercasting also produces Rabble, a blogging and social networking application for mobile phones.
Since founding in 2004, the company has raised $17.5 million to date. The most recent round was in May 2007 when the startup raised $12 million in new capital from Venrock Associates of Menlo Park, Calif., La Jolla, Calif.-based Avalon Ventures and Cambridge, Mass.-based Masthead Venture Partners.
For founders Shawn Conahan and Derrick Oien, it marks another success story. Conahan and Oien previously headed other startups and were vice president and chief operating officer, respectively, of music site MP3.com, which was bought by Vivendi SA.
For Good Technologies, the deal is the second acquisition of the year. In February, Visto Corp. purchased Good Technologies from troubled Motorola Inc. (NYSE:MOT) for an undisclosed sum. Upon closing the purchase of the mobile enterprise application business, Visto took the better known Good Technologies name.
Good's venture investors include Oak Investment Partners, Draper Fisher Jurvetson, Meritech Capital Partners, DFJ ePlanet Ventures, DFJ Growth Fund, Rustic Canyon Ventures, Allegis Capital, GKM and Blueprint Ventures. - Matthew Wurtzel
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