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NeoMedia to Acquire Germany-based 12snap for $22 Million

Authored by Mark Hefflinger on February 14, 2006 - 10:27am.
Ft. Myers, Fla. - NeoMedia Technologies, a provider of technology for delivering mobile Internet-based information, has agreed to pay $22 million in cash and stock to acquire 12snap, a Munich-based provider of marketing and entertainment applications for cellular phones. This is NeoMedia's first European acquisition. Last week, the company acquired Mobot, a Massachusetts-based provider of mobile visual recognition technology. Founded in 1999, 12snap has a total of about 75 employees in New York, London, Milan, Vienna and Stockholm, as well as Dusseldorf and Munich, and a technical development center in Romania.
tags: Acquire | NeoMedia | Germany-based | 12snap |