IAC to Sell Mosaic Apps to Bending Spoons for $100 Million-Plus

IAC Corp. agreed to sell its Mosaic Group suite of mobile-phone apps and intellectual property to Italian technology company Bending Spoons SpA, according to an internal statement reviewed by Bloomberg News.

The deal includes Mosaic’s suite of apps, such as ones that help users edit PDF documents, and the company’s intellectual property and tools. None of Mosaic’s 330 employees are expected to join the new company, IAC confirmed.

“While we have made tremendous progress this year it’s no secret the mobile landscape has dramatically shifted,” Mosaic Chief Executive Officer Kathleen Barrett said in the memo. “This transaction is an ...