Augme Technologies To Acquire Mobile Ad Firm Hipcricket For $44.5 Million

Mobile marketing service, Augme Technologies, today announced that it will be acquiring Hipcricket, a mobile marketing and advertising platform for $44.5 million -- $6 million of which is in cash and $38.5 million in common stock. Hipcricket's shareholders must approve the acquisition before it can be finalized, yet with the transaction also calling for a 12-month earn-out payment of an additional $27.5 million, it seems likely that the deal will be approved. Augme will take on all of Hipcricket's 50-plus employees, but the mobile ad firm will continue to operate out of its offices in Kirkland, Washington.

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