Emap's consumer media department has acquired YoSpace, a technology firm which specialises in user-generated content.
The deal is worth £8.7m, with a further £5.7m payable based on performance targets. YoSpace's clients include O2, Vodafone, Orange and 3.
Emap Consumer Media CEO Paul Keenan says the acquisition gives Emap a powerful position in the moblie UGC market:
"Coupled with Emap’s marketing reach, brands, content and industry relationships, this acquisition will enable us to move forward in the fast emerging mobile user-generated and video content market.”
The YoSpace chief executive, Tim Sewell, and the chief technology officer, David Springall, will continue to lead the company at its base in Staines.
YoSpace reported a loss of £480,000 in its most recent financial results, for the year ending December 2005.
So, after five years of hype, is 2007 going to become the year of mobile? The jury remains out at this end...