Critical Path Acquires Mobile Social Content Aggregator ShoZu
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Mobile social content aggregator ShoZu has been acquired by mobile software firm Critical Path. Financial terms were not disclosed.
SEE ALSO: Interview: Chris Wade, CEO, Shozu: VCs Won’t Pay For Free Apps Forever
London-based ShoZu was backed by over $36 million in funding from SEB Venture Capital and Atlas Ventures, among others; its most recent round was worth $12 million in early 2008. Dublin-based Critical Path is a private company backed by General Atlantic Partners and Cheung Kong Group.
ShoZu chairman and CEO Chris Wade (pictured) will stay on post-acquisition in an advisory role for a short time, per TechCrunch; the rest of the company’s staff will join Critical Path full time. The company says it will continue to operate ShoZu’s apps for the foreseeable future, though the content-sharing technology will likely be added to Critical Path’s enterprise-facing products in the future. Release (via Mobile Industry Review).
Posted In: Mobile, Money, M&A & Venture Capital, Mergers & Acquisitions, Social Media, shozu
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