Devises new strategy after collapse of its content delivery business.
Motricity had a horrible 2011, as the bottom fell spectacularly out of the carrier content market.
It all concluded with the firm firing its founder and CEO Ryan Wuerch and then facing lawsuits from disgruntled shareholders over alleged 'possible breaches of fiduciary duty and other violations' by directors.
Now, after a period of introspection, the firm says it will focus on mobile enterprise and advertising, although there's little detail yet on exactly how.
It will also pull out of Asian markets.
Motricity has made a series of sales hires to kickstart the new market opportunities and is poised to start development on new products to enable an update service platform.
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Jim Smith, interim CEO of Motricity, said: "The past several months have been a period of transformation for the company. We've made considerable changes which I believe will lay the foundation for long-term success and reignite growth.
"However, in order to achieve our business objectives, we've had to make some difficult choices, including streamlining and exiting areas of our business that were no longer strategic or profitable. I believe the strategy that we've since adopted now aligns with the strong market opportunity that exists in mobile enterprise and advertising.
"As a company, we have made significant adjustments to our cost structure, organisation and strategy. Given our depth of talent, rich history in mobile and strategic focus on mobile enterprise and advertising, I'm confident that the changes we've instituted will help deliver enhanced shareholder and customer value."
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