Motricity, which provides mobile data solutions to wireless carriers through its mCore platform, announced terms for its IPO on Wednesday. The Bellevue, WA-based company plans to raise $101 million by offering 6.8 million shares at a price range of $14-$16. At the mid-point of the proposed range, Motricity will command a market value of $585 million. Motricity, which was founded in 2001 and booked $114 million in sales last year, plans to list on the NASDAQ under the symbol MOTR. J.P. Morgan and Goldman, Sachs & Co. are the lead underwriters on the deal, which is expected to price the week of June 14th.
