Monday, March 9, 2015

HipCricket Suitor Outbid in Bankruptcy Auction

Two different investors groups are fighting over the remains of Kirkland, Washington-based Hipcricket in its Chapter 11 bankruptcy sale, with investor group ESW Capital LLC putting in a higher offer than an earlier, $4.5M cash bid from SITO Mobile Ltd, according to a report from Law360. Hipcricket filed for bankruptcy in January. At the time, Hipcricket said it had agreed to accept an offer from SITO Mobile for the company's assets.