Options Media Group Acquires Illume Software for Undisclosed Sum

  • Feed Type
  • Date
    2/1/2012
  • Company Name
    Illume Software
  • Mailing Address
    75 Second Avenue Needham, MA 02494
  • Company Description
    Illume Software develops solutions that leverage location to power high-value applications and services. Our first product, iZUP, offers a responsible solution to cell phone-related distracted driving. iZUP harnesses the power of GPS, the pervasiveness of cellular networks, and the new emphasis on intelligent solutions to real-world problems.
  • Website
    http://www.illumesoftware.com
  • Transaction Type
    M&A
  • Transaction Amount
    Undisclosed
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    Under the terms of the definitive agreement, Illume will become a wholly-owned subsidiary of Options Media. The shareholders of Illume will own 40% of the post-merger company. The completion of the acquisition is contingent on Options Media receiving financing in connection with the acquisition and for ongoing operating costs.