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Industry Moves

10Q Watch: AOL Ditches Mobile Faceplates Company Wildseed

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We mentioned this briefly in the earnings report yesterday, but now more details: AOL (NYSE: TWX) (NYSE: TWX) has divested itself of Wildseed, a company which developed intelligent faceplates for mobile phones and was bought by AOL for an undisclosed sum two years ago. In parent company Time Warner’s 10Q (PDF) it reveals it has “transferred the assets of Wildseed LLC (“Wildseed”), a wholly owned subsidiary of AOL, to a third-party”. No details of who that was to, but AOL “recorded a pretax charge of approximately $7 million related to this divestiture in the second quarter of 2007 and an impairment charge of approximately $18 million on the long-lived assets of Wildseed in the first quarter of 2007”. AOL also sold off mobile software company Tegic to Nuance for $265 million. PaidContent has more on the AOL Time Warner earnings.

Nov 8, 2007 9:04 AM ET

Posted In: Industry Moves, Companies, AOL, Time Warner, wildseed

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