Who says the summer doldrums are a slow time for big business?
On Thursday, New York mobile marketing company Augme Technologies, Inc. announced that it has acquired juggernaut mobile ad firm Hipcricket for a staggering $44.5 million.
Just two weeks ago, Augme revealed its acquisition of Jagtag for $5.5 million.
Augme says that because of the new acquisition of Hipcricket, Augme will be the “preeminent end-to-end mobile marketing solution provider” for consumer brands, agencies, pharmaceutical, health, and media companies.
When you take into consideration the client list of both firms, it’s a database that tops some 300 customers.
The acquisition, however, remains subject to Hipcricket shareholder approval. Augme says that it fully expects to hire all of Hipcricket’s employees and the current Hipcricket team will continue to service Hipcricket’s business.
“We expect the complementary resources of Augme, JAGTAG and Hipcricket, when combined, will allow Augme to provide the most powerful best-of-breed mobile marketing solutions to global brand name leaders, backed by strong intellectual property portfolio, including patented technology and software-as-a-service, (“SaaS”) technology platforms”, Augme CEO Paul Arena stated following the announcement of his company’s latest acquisition in the mobile marketing space.
