Lenco Acquires iLoop Mobile for $42,000,000

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fc5c9c11-042d-4375-b97b-d0916e51f2e6&Preview=1
Date
11/8/2011
Company Name
iLoop Mobile
Mailing Address
25 Metro Drive San Jose, CA 95110
Company Description
Loop Mobile is the leader in mobile services and technology for interactive mobile marketing, mobile advertising and mobile content distribution. The company’s patent-pending mFinity platform makes it fast and easy for brands, marketing agencies, content owners and other companies to create compelling and effective mobile phone initiatives worldwide.
Website
http://www.iloopmobile.com
Transaction Type
M&A
Transaction Amount
$42,000,000
Transaction Round
Proceeds Purposes
M&A Terms
Under the terms of the agreement, iLoop will become a subsidiary of Lenco, with iLoop’s shareholders receiving a combination of cash and stock valued at approximately $42 million.