3GSM: Acquisitive NeoMedia buys 12snap
BARCELONA--NeoMedia Technologies announced at the 3GSM Word Congress here that it has signed an agreement to acquire 12snap, a mobile marketing and entertainment company, for $22 million in cash and shares. The deal is NeoMedia's second within the last week, and the company acknowledged that it has in fact initiated an acquisitions strategy.
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Late last week, NeoMedia signed a $10 million agreement to buy Mobot, a company specializing in mobile visual recognition technology. NeoMedia official also said the company is in the process of acquiring Triton Global Business Services, with an eye on creating a new telecommunications business unit.
NeoMedia also is working to establish its patented PaperClick platform as a mobile marketing tool. PaperClick uses SmartCodes are keywords entered into cell phones to link directly to specific mobile Internet content for shopping and other applications.
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