Marchex Inc. offers performance-based call advertising products to help advertisers reach customers via phone when they are ready to make a purchase. The company today announced it has acquired Jingle Networks, a leading provider of mobile voice search performance advertising and technology solutions in North America.
Per the agreement, Marchex will pay up to $62.5 million in cash and stock for Jingle Networks, in a deal expected to give the Marchex Call Advertising Network better positioning to provide advertising solutions using all digital media platforms.
Over the last 12 months, Jingle Networks has increased its mobile distribution partner network, and has grown its mobile partner call volume by more than 200 percent.
“Our product vision is to build the most effective and broadest-reaching call advertising network that connects millions of businesses to hundreds of millions of customers via the phone at the right time in the purchasing process,” Russell C. Horowitz, CEO and chairman of the board at Marchex stated in the press release. “Jingle Networks accelerates our call advertising strategy by adding a key asset in mobile voice search, while also increasing the scale of our call advertising network through their relationships with many of the largest U.S. mobile carriers and leading mobile network providers.”
Marchex said it expects Jingle Networks will generate more than $26 million in 2011 revenue, up more than 40 percent over 2010. Marchex estimates that $4 million in intercompany eliminations will result in more than $22 million in net revenue.
With the addition of Jingle Networks to its call advertising network, Marchex is position to offer its advertisers access to digital media across Marchex’s Call Advertising Network from exclusive and preferred relationships with more than 100 channel sources.
“Given the unique assets of each company, we believe there are many opportunities to provide further value to our customers and partners with the strengthened call advertising network from Marchex,” John Roswech, president of Jingle Networks stated. “We share Marchex’s vision and believe they have the strategy, assets and resources to deliver the most comprehensive call advertising solutions. We are excited to be part of the team.”
For more information visit marchex.com
Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.