FunMobility scoops up Moblastic

Wireless community and media services provider FunMobility announced its acquisition of mobile social applications developer Moblastic. Financial terms were not disclosed. Moblastic's proprietary technology combines photo editing with mobile social networking services, enabling users to share, exchange and customize user-generated content on handsets and PCs;  the firm also boasts a live Facebook application and mobile slideshow tech. According to FunMobility, the deal will help expedite its entrance into the direct-to-consumer space, bolstering fledgling products like PhotoFun and MyShow: "Moblastic's technology will dovetail nicely into these launches, as well as a few other products we have in development that will be released in the coming months," said FunMobility CEO Adam Lavine in a prepared statement.

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