The corporate venturing units of telecoms companies Orange and Motorola Mobility are set to see realisations of their investments in US-based cloud computing business DeviceAnywhere, which was sold for $90m on Monday, including a $30m performance-based earn out.
The platform DeviceAnywhere tests and monitors mobile websites and applications and has been sold to Keynote Systems.
Innovacom, the corporate venturing unit of France Telecom, backed Mobile Complete, the holding company of DeviceAnywhere, in 2005.
Mobile Complete subsequently raised funding, expanding its backers to include Motorola Ventures in 2006. When Motorola was split up as a company its ventures division was also split in two – the DeviceAnywhere investment is now listed as part of the portfolio of Motorola Mobility Ventures, the corporate venturing unit of Motorola Mobility, the US-based handset maker, on its website. Motorola Mobility was bought in August by US-based search engine Google for $12.5bn.
In August Mobile Complete raised $2m of a $2.2m funding round, according to this SEC filing.
It has also received funding from venture debt provider MMV Financial.
DeviceAnywhere had $20m in revenue for the trailing twelve months ended September 30, 2011 and it has had 15% annual growth rate in revenues over the last three years.