Mobile application developer Handmark says it'll turn its social apps business and mobile ad services group into a new company later this month.
Evan Conway, executive vice president of marketing and product development at Handmark, will be president of the new company.
Paul Reddick, CEO of Handmark, said "We’ve seen firsthand the explosive growth at the intersection of social networking and mobile. The subsidiary is in recognition of the team’s innovative spirit and its firm grasp of what matters to the increasing number of people who use mobile devices to connect with their social world. Additionally, this team has the proven ability to effectively monetize mobile audiences.”
The new company will assume ownership of the TweetCaster and FriendCaster social apps, which have seen more than three million downloads.