The acquisition, LifeMinders said, has a purchase price of $36 million, and is comprised of approximately 1.25 million shares of LifeMinders common stock and $1 million in cash.
LifeMinders believes the smartRay acquisition “will accelerate the use of its personalization technology in the wireless industry.” SmartRay’s system enables real-time message delivery to digital mobile phones, one- and two-way pagers, and wireless PDAs. The company also offers a suite of personalized, profile-driven messages and alerts that target wireless users.
The expanded LifeMinders services will be promoted to LifeMinders existing customers, as well as more than 20 of its outsourcing clients.
“The robust category offerings and carrier relationships gained through smartRay, combined with LifeMinders personalization direct marketing technology and our 18 million member base, positions LifeMinders as the company most prepared to capture the enormous opportunities of the exploding wireless industry,” said Stephen Chapin, Jr., chairman, and chief executive officer of LifeMinders.
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