Perk.com, the cloud-based mobile rewards platform provider, just announced that it completed the acquisition of cloud-based advertising solution Viggle App on February 8. The original deal was announced in December 2015. The deal includes Viggle’s related assets, including its mobile and tablet apps, intellectual property such as patents in the rewards category, brand and advertiser relationships as well as its direct sales force.
Viggle provides incentivised content consumption
Ted Hastings, Chief Executive Officer, Perk, said:
“Here at Perk, we believe that rewards give brands the ability to engage with consumers in deeper ways than traditional advertising. Viggle is a premium rewards platform that has direct relationships with many well-known brands. The acquisition of the Viggle Assets has brought Perk to the forefront as a market leader with over 20 million combined registered users. We believe that the Company’s now expanded user base provides brands with additional opportunities for user engagement and that our wide selection of mobile apps and websites offer more innovative ways for brands to deliver their messages to intended audiences.”
He adds that it’s been a core objective for Perk.com to grow its direct sales team. The acquisition of Viggle accelerates this process. Perk will be using Viggle’s contacts to establish a presence with brands and agencies across its key offices in the US, New York, San Francisco and Los Angeles.
As part of the Asset Purchase Agreement, Perk loaned Viggle $1m, that was repaid by Viggle by reducing the number of Perk common shares issued to Viggle on closing the transaction from 1,500,000 to 1,370,000.