Mobile Marketing Firm NeoMedia to Acquire Gavitec for $4.6 Million

Authored by Mark Hefflinger on January 29, 2007 - 2:43pm.

Fort Myers, Fla. - NeoMedia Technologies, a provider of mobile marketing technology, has agreed to pay $1.6 million in cash and 61 million shares of NeoMedia stock to acquire Gavitec, a Germany-based maker of code readers for mobile marketing, mobile ticketing and mobile coupons.

Based on NeoMedia's current share price of about $0.05, the deal has a total value of about $4.6 million.

"This is a positive outcome for NeoMedia, and we are excited to execute our business plans with Gavitec, which remains a core component of our overall strategy," said Charles Fritz, interim CEO and president of Ft. Myers, Fla.-based NeoMedia.

Related Links:
http://biz.yahoo.com/prnews/070129/nym238.html?.v=8
http://www.gavitec.com
http://www.neom.com

Published in DMW Daily, January 29, 2007

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Comments

Actually, this was a

Submitted by Clay (not verified) on January 29, 2007 - 3:09pm.

Actually, this was a renegotiation of a previous contract to purchase Gavitec a year ago. Since Neomedia's shareprice has dropped substantially over the last year, this was much needed. I think that Neom and Gavitec are a great pair, and I am looking for some great developments to come out of this marriage over the next year as the mobile space unfolds.