Call Genie to Acquire VoodooVox
Call Genie, a Canada-based provider of mobile advertising and local search solutions, announced today that it will acquire VoodooVox, a U.S.-based data analytics and mobile advertising network.
Under the terms of the agreement, Call Genie, which is listed on the Toronto Stock Exchange, will issue 11.25 million shares to VoodooVox shareholders, as well as pay an additional $1.8 million in cash over an unspecified period of time.
Call Genie shareholders will also be asked to vote on a resolution to change the company name to VoodooVox Inc. Management and the company directors "do not believe the name 'Call Genie' adequately reflects how the business of the company has evolved," according to a statement.
VoodooVox provides demographic information on phone calls and mobile ad traffic in real time, enabling companies to gain insight into their call volume and mobile application activities.
The acquisition will allow Call Genie to strengthen its position in pay-per-call advertising, according to Call Genie president and CEO Michael Durance. "The more pay-per-call advertisers know about their callers, the more success they'll have with their campaigns," said Durance in a statement. "Our goal is to create a smarter mobile ad network, and VoodooVox gives us audience insights that benefit key stakeholders in the mobile advertising ecosystem."
The acquisition is expected to be completed in January 2012.