DD: That says it all. Noisy period Part Deux to begin shortly! Boy I wish I could have sat in on those meetings. I would like to see the strategic plan laid out. Of course I think we might have seen it at the ASM. Hee Hee :)
NeoMedia to acquire its latest business
BSD Software purchase to conclude Tuesday
By Tim Engstrom
tengstrom@news-press.com
Originally posted on March 18, 2006
The list of recent acquisitions by Fort Myers-based NeoMedia Technologies Inc. is expected to get a little longer next week.
The company expects to conclude its purchase of BSD Software Inc. on Tuesday, NeoMedia Chief Executive Officer Charles Jensen said.
Calgary-based BSD Software operates Triton Global Business Services, a billing and clearinghouse operation for the telecom industry.
The deal is a weighted stock transaction. Both companies trade over the counter.
The deal will be the latest in a string of buys NeoMedia has closed already this year, including:
• Mobot Inc., based in Lexington, Mass. Mobot specializes in visual search and recognition technology for mobile devices. Cost: $10 million in cash and stock.
• 12snap AG, based in Munich, Germany. 12snap specializes in marketing and entertainment applications and programs for cell phones. Cost: $22 million in cash and stock.
• Gavitec AG, based in Aachen, Germany, a provider of mobile technology and marketing. Cost: $7.2 million in cash and stock.
• Sponge, a London-based developer of mobile device applications and content. Cost: $23.4 million in cash and stock.
In addition, NeoMedia has signed a letter of intent to acquire HipCricket, a mobile marketing company based in Connecticut for $4.5 million in cash and stock.
NeoMedia brought top executives — and their spouses — from the acquired companies to the Pink Shell Beach Resort & Spa on Fort Myers Beach this week. They mapped strategy for 2006 and introduced newcomers to the area.
Martin Copus, chief operating officer for NeoMedia, said all of the companies fit together to form a powerful marketing company reaching consumers through mobile phones and other devices.
"We have a soup-to-nuts mobile wireless marketing solution," Copus said.
As an example of the marketing approach, a campaign operated by Mobot encouraged readers of ELLEgirl magazine to use their cell phone cameras to snap a picture of specific ads on specific days in September. Those who did were entered to win whatever was featured in the advertising.
Kevin Wells, vice president of business development for Mobot, said meeting leaders from the other companies has gotten everyone exited about the future.
"With the companies and the talent that NeoMedia has brought together, we are the best-of-breed in the world today," Wells said.
Andreas Weyer, CEO of Gavitec, said he is looking forward to what the combined talent from the combined companies can do.
"This is really about thinking about what we can bring to the customer next," Weyer said.
