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Motricity up 18% on India deal with Reliance, new stock high
Posted by Brier Dudley
Motricity's recent talk about international expansion wasn't smoke and mirrors.
The company today announced a major deal with Reliance Communications, one of India's largest mobile operators, which will use the Bellevue company's mCore mobile data platform.
Motricity's stock soared on the news this morning. At last check it was up $2.37, or 18 percent, to $15.35.
The company simultaneously announced a new "mobile as a service" offering that delivers a suite of services including mCore.
Founder and chief executive, Ryan Wuerch, said in the release that it's particularly appealing to mobile operators in developing countries that have limited resources and "exploding demand for mobile data services."
(UPDATE: It's now at $16.45, a 27 percent gain ...)
UPDATE - 7:02 PM
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