Augme Technologies Acquires HipCricket for $44,500,000

  • Feed Type
  • 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.