Startups
IAC Divests Mosaic Apps to Bending Spoons in Deal Valued Above $100 Million
- Mosaic’s 330 employees will lose their jobs as part of deal
- The buyer wants the apps, intellectual property, not payroll
Mosaic Group mobile-phone apps.
Source: Mosaic Group
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IAC Corp. agreed to sell its Mosaic Group suite of mobile-phone apps and intellectual property to Italian technology company Bending Spoons SpA, according to an internal statement reviewed by Bloomberg News.
The deal includes Mosaic’s suite of apps, such as ones that help users edit PDF documents, and the company’s intellectual property and tools. None of Mosaic’s 330 employees are expected to join the new company, IAC confirmed.