TV Apps Startup Viggle to Acquire GetGlue
Companies together have nearly 4.5 million registered users
By Todd Spangler, Multichannel News -- Broadcasting & Cable, 11/19/2012 10:44:42 AM
Under the terms of the deal, Viggle will pay $25 million in cash and 48.3 million shares of stock for GetGlue. Viggle will operate the Viggle and GetGlue brands, and GetGlue founder and CEO Alex Iskold will join Viggle in a senior executive position on its management team and as a member of its board. Viggle will also absorb all 34 of GetGlue's employees.
The combined company will have nearly 4.5 million registered users, which Viggle said will help it drive toward scale to line up more advertising clients and TV programming partners.
"With this deal, we are combining very experienced and creative product, engineering and management teams that will continue to build great user experiences and provide industry leading platforms for consumers, networks and advertisers," Robert F.X. Sillerman, Executive Chairman and CEO of Viggle, said in a statement. "We will also be vastly increasing the Viggle user base and quadrupling our network partnerships. Viggle and GetGlue users can look forward to using the apps they have come to love as we add new and appealing features made possible by the combined resources of this clear industry leader."
Click here to read the full story at Multichannel News.
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