Wednesday, February 22, 2006

Mobile Marketing company Sponge acquired by NeoMedia

NeoMedia Technologies, Inc. has acquired Sponge with an aggregate of £10m consideration, including £3.45 m in cash and the remainder in NeoMedia shares with a further £2.5m available under an earn-out based on targets being reached in the next two years. Sponge works predominantly with agencies on big brand activity such as the recent Walkers Win and Ipod campaign where 5% of the UK population took part (well it was promoted on 600 million packets of crisps... certainly the largest text and win to date that I know of).

In the U.S., NeoMedia completed the acquisition of Mobot®, Inc, of Boston and announced the acquisition of HipCricket, Inc., of Essex, Connecticut. And in Europe, NeoMedia announced and completed the acquisition of Munich-based pan-European mobile services provider and developer 12snap, and announced the acquisitions of Gavitec-mobile digit of W├╝rselen, Germany, and now London-based Sponge.

This means that NeoMedia will, arguable, be the largest one-stop mobile marketing shop on the planet.

I wish Alex, Dan and the team all the best with their new future at NeoMedia. And let's hope this bodes well for the future of mobile marketing generally.

Other news that will be out tomorrow via New Media Age is that flytxt's deal with Three has fallen through and Mblox has raised a further £14m to aid its mission for global domination.

1 comment:

  1. Anonymous2:41 am GMT

    Thanks Helen.

    Don't you want to join the Neomedia family too?



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