Another acquisition in the mobile marketing space was unveiled today.
Augme Technologies – a leading provider of mobile marketing solutions – has signed a definitive Asset Purchase Agreement to acquire Jagtag, Inc., a privately held mobile marketing “pioneer” based in Princeton, New Jersey.
Jagtag, of course, is will known for its solutions allowing consumers to read QR codes without a corresponding smartphone or scanning app.
According to a press release this morning from Augme, the purchase price for the acquisition is around $5 million.
Jagtag’s 2D barcode solution, which is the only to reach better than 90% of consumers in the US, will play a critical role in Augme’s future endeavors.
Augme expects that its combined resources with Jagtag will create a premier mobile marketing provider for brands, agencies, pharmaceutical/health and media companies.
“We expect Jagtag to contribute value-added synergies that will bolster Augme’s ability to provide client brands, agencies and partners with a full suite of products, services, strategies and experience to create mobile marketing solutions with measured benefits,” says Ed Jordan, the CEO of JagTag who will now serve as CFO of Augme.
“Our combined offerings are complementary, and we are excited about the benefits we expect our clients will realize from a technology platform that offers significant competitive advantages from a growing intellectual property portfolio,” Jordan concluded.