That is the division causing all the writedowns and impairment charges!!! Basically customers sign up and agree to pay a certain amount per click when they are in an app and Velti is the middleman!!! When their customers don't pay them they can't pay the developers for the clicks. AHAAAAAAA Eurekaa!!!!!
Actually you are wrong, mobclix on its own was very successful.
After Velti took over it went downhill.
Velti has another business line called Mobile marketing which is basically running marketing campaigns.
'Most of 110million writedown is from that line and that line is cause of this company's downfall.
That's not completely accurate. Mobclix had plenty of well-known liquidity issues before Velti bought it. I can only assume that Velti bought it anyway because having liquidity issues wasn't a showstopper in Velti's corporate culture.