Augme Technologies Acquires HipCricket for $44,500,000
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6e8ae2f9-9577-49c4-b3f3-95d0d319ff1a&Preview=1 - Date
8/4/2011 - Company Name
HipCricket - Mailing Address
11241 Slater Ave NE Kirkland, WA 98033 - Company Description
HipCricket Inc. specializes in producing interactive mobile marketing campaigns that generate non-traditional revenue for radio, television, and agency clients. The company makes every ad and promotion totally interactive, gives 95% of all cell phone users the opportunity to participate, delivers a proven response rate and added accountability to advertisers, and takes broadcasters and brands farther than they have ever gone before – right into the pockets of consumers. - Website
http://www.hipcricket.com - Transaction Type
M&A - Transaction Amount
$44,500,000 - Transaction Round
- Proceeds Purposes
- M&A Terms
The purchase price of $44.5 million will be comprised of $6 million in cash and $38.5 million in Augme common stock. In addition, the transaction calls for a twelve-month earn-out payment valued at up to an additional $27.5 million, which may be paid in cash or stock at Augme’s discretion provided that the transaction remains a tax-free reorganization.
