$4.5 Million

NeoMedia to Acquire Mobile Marketing Firm HipCricket for $4.5 Million

Authored by Mark Hefflinger on February 17, 2006 - 7:19am.

Fort Myers, Fla. - Continuing a recent string of acquisitions, NeoMedia Technologies, a provider of mobile Internet technologies, has agreed to pay $4.5 million in cash to acquire HipCricket, a Connecticut-based provider of mobile marketing technology for broadcasters and brand marketers. HipCricket provides customers with a range of mobile media technology, including marketing and mobile strategy development, creative content development, tracking and analysis, and database development and maintenance. Founded in 2004, HipCricket has already worked with four national radio groups, TV networks, a top TV reality show, and more than two dozen major marketers, NeoMedia said. Last week NeoMedia acquired Mobot, a provider of mobile visual recognition technology, for $10 million in cash and stock. Earlier this week, NeoMedia announced the purchase of 12snap, a Germany-based provider of marketing and entertainment applications and programs for cellular phones, for $22 million.