Thursday, August 4, 2011

Hipcricket Acquired By Augme Technologies

Seattle-based Hipcricket, the mobile marketing and advertising firm, is being acquired by fellow mobile marketing firm Augme Technologies, New York-based Augme said today. AugMe said it has signed a definitive agreement to purchase "substantially all" of Hipcricket's assets and business, in a deal worth $44.5M. Augme said the deal is made up of $6M in cash and $38.5M in Augme's common stock, plus up to $27.5M in earn out over the next twelve months. Augme said it expects to hire all of Hipcricket's employees as part of the buy. Hipcricket was founded in 2004.