Ivrnet buys TxtMeNow
Calgary-based software company Ivrnet has signed an agreement to acquire mobile marketing firm TxtMeNow Mcommerce, also based in Calgary. The deal, which will be paid for with 350,000 Ivrnet common shares and a revenue-sharing plan, is expected to close by the end of the month. TxtMeNow CEO Hanif Mohamed has joined Ivrnet as marketing and commercialization manager. TxtMeNow specializes text messaging, mobile websites and data analytics as they apply to marketing. Its clients include Microsoft, Open Text, Mr. Lube, Canada Safeway, Old Dutch and Mark's. "The timing of this latest acquisition fits perfectly with our current growth strategy," said David Snell, president and CEO of Ivrnet. "We were aware of TxtMeNow as they had been collaborating with ITSportsNet, whom we acquired in 2011, to innovatively integrate text messaging within their platform. We see tremendous promise in their text messaging, mobile web development and data analytics technologies and think they are ideally suited to enhance Ivrnet's suite of products moving forward."