mobile marketing comps

NeoMedia is behaving like a lottery winner in a shopping mall…the latest acquisition is London-based Sponge, which develops mobile applications for agencies and media groups. “The agreement with Sponge signed earlier this week calls for an aggregate of $17.4 million consideration, including $6 million in cash and the remainder in NeoMedia shares, with an additional $4.35 million available under an earn-out if Sponge meets pre-determined earnings targets over the next two years.�
Recent Acquisitions:
–Mobot
–HipCricket (intends to buy)
–12Snap
–Gavitec
The purpose of this $62.1 million shopping spree is to become the leading mobile marketing agency in North America and Europe. Sponge focuses on tools that its customers deploy in an extensive range of SMS- and MMS-based entertainment and mobile marketing applications, as well as handset software solutions for marketing and promotional agencies, and for media groups. It was the company behind the recent on-pack promotion for Walkers Crisps in which more than 5% of the UK participated.