FORT MYERS, Fla.—Continuing its recent flurry of acquisitions, NeoMedia Technologies Inc. signed a letter of intent to acquire HipCricket Inc., which provides custom mobile marketing solutions for broadcasters and brand marketers.
HipCricket, based in Essex, Conn., licenses software to radio stations and broadcast networks that allows for direct interaction with listeners and viewers using mobile messaging technology. The company also develops interactive marketing programs. HipCricket’s clients include Clear Channel Communications, Walt Disney Parks & Resorts, Fox Sports Radio and other companies such as Dunkin’ Donuts and FritoLay.
The nonbinding agreement consists of $4.5 million in cash and stock. The transaction is expected to close within three months.
In the last few weeks, NeoMedia has announced plans to buy Mobot Inc. for $10 million and 12snap AG for $22 million.
