Viewpoint Scoops Up Springbox
On Friday, Viewpoint Corporation, an online marketing technology firm, announced that an agreement was reached to acquire Springbox, an interactive marketing firm specializing in digital web marketing and creative solutions. Springbox is expected to generate $6.0 million in gross revenue this year.
Patrick Vogt, president and CEO of Viewpoint said “The acquisition of Springbox aligns perfectly with our strategy to enhance our web based product offerings, in order to meet the escalating demand for creative digital and Internet solutions that we see from our clients. Springbox also provides a robust content management technology that we will leverage across the Unicast ad platform to create a unique, integrated offering that combines digital marketing with our Premium Rich Media ad content and delivery capabilities.”
The acquisition will close in the fourth quarter of this year and the terms include $5.5 million in stock and cash, plus an EBITDA-based earn out. Viewpoint has also entered into a private placement where new and existing institutional investors have already purchased 15,714,285 common shares of the company and warrants to purchase 4,714,285 shares of common stock for aggregate proceeds of $11 million.
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