Yospace's products include the 'See me TV' and 'LookAtMe!' services and its customers include major mobile network operators in the UK.
The total paid could rise by £5.7 million depending on Yospace's operating performance in the next three years.
The business will sit within Emap Performance, the digital media arm of the company’s consumer media division.
Paul Keenan, chief executive of Emap consumer media, said: "The acquisition of Yospace is another step in our strategy of focusing resources onto faster growth digital platforms and reflects our commitment to innovation, be it in magazines, radio, TV or digital businesses.
"Coupled with Emap's marketing reach, brands, content and industry relationships, this acquisition will enable us to move forward in the fast-emerging mobile user-generated and video content market."
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