Mobivity Acquired By CommerceTel Corp.
April 13th, 2011 by Greg Harris
CommerceTel Makes Second Acquisition in Less Than 30 Days
CommerceTel Corporation (OTCBB: MFON), an award-winning provider of proprietary mobile marketing technologies and solutions, announced today that it has acquired Mobivity (http://www.mobivity.com/). This marks CommerceTel’s second acquisition in less than 30 days.
“We continue to execute on our strategy of acquiring and integrating complementary mobile marketing businesses. We plan to provide enterprises, brands and agencies with a high quality one stop shop of technologies,” said Dennis Becker, CEO. “Our first two acquisitions, TxtStation (closed April 1) and Mobivity, are expected to increase our revenues by over 150%. In addition, this allows us to cross sell CommerceTel’s technology to Mobivity’s and Txtstation’s existing client base.”
More than 20 million mobile engagements have been facilitated via the Mobivity SMS solution. CommerceTel plans to enhance the feature set of the solution by adding its award-winning technology so that Mobivity clients can expand their mobile marketing strategy. CommerceTel’s lower cost network operating infrastructure is also expected to streamline Mobivity’s operating systems and make for a more competitive and profitable service. With thousands of unique visitors seeking mobile marketing services online, the combination of CommerceTel’s technology and Mobivity’s easy-to-use platform is expected to greatly increase the two companies’ combined customer base.
“We believe in CommerceTel’s vision and are pleased with the opportunity to be a part of a bigger play in growing the mobile marketing industry,” said Greg Harris, CEO of Mobivity. “Combining our business with CommerceTel’s resources and technology makes us a more competitive player in this rapidly growing space.”
The terms of the transaction are more fully described by CommerceTel in a report on Form 8-K previously filed with the United States Securities and Exchange Commission.
For more information, please visit http://www.commercetel.com.
About CommerceTel
CommerceTel is an award-winning provider of proprietary mobile marketing technologies and the inventor of C4, a unique, enterprise-grade platform empowering brands to engage mobile consumers via multiple channels. The only system of its kind, C4 is a cloud-based solution providing broad mobile communications and extensive CRM features. It is integrated with multiple tier-one PSTN/ IP carriers and micropayment processing facilities as well as with carrier premium SMS billing systems. Customers include CNN, Disney, Sony Pictures, AT&T, Verizon, USA Network, numerous professional sports franchises, the Golf Channel, and NBC Universal.
Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”). Statements including words such as “seek,” “intend,” “believe,” “plan,” “estimate,” “expect,” “anticipate” and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the impact of intense competition, the continuation or worsening of current economic conditions and the condition of the domestic and global credit and capital markets as well as the Risk Factors disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on December 27, 2010. Further information on CommerceTel’s risk factors is contained in its filings with the Securities and Exchange Commission. CommerceTel does not undertake any duty nor does it intend to update the results of these forward-looking statements.
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