Monday, April 11, 2011

Marchex Buys Jingle Networks

Seattle-based Marchex said this morning that it has acquired Jingle Networks, the provider of mobile voice search and advertising services. Marchex said it will pay up to $62.5M in cash and stock for Jingle Networks. Marchex explained that the move would extend its market penetratio into the mobile area. The deal is split up between $16.7M in cash and $8M in stock at close, plus payments between $18 and $18.9M in cash or stock at 12 and 18 months. Marchex said it believes the addition of Jingle Networks will generate more than $26M in 2011 revenues for the company. Jingle was venture backed by Comcast Interactive Capital, First Round Capital, Goldman Sachs, Hearst Corp., IDG Ventures, and others, and had raised north of $75M in funding.