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Five-year-old mobile advertising and marketing technology service provider CommerceTel Corp. has a big appetite for growth, through acquisition.
On June 13, the San Diego-based company said that it is acquiring text messaging marketing company BoomText from Chandler, Ariz.-based DigiMark LLC.
The deal, when it goes through later this summer, was CommerceTel's third announced in this year, said founder and CEO Dennis Becker.
"They'll bring revenues as well as 1,000 clients," said Becker. "They've got the best of both worlds - a big brand customer but small store business market."
During the quarter, the company said it acquired Txtstation Mobile Marketing and online event marketing and management service Mobivity.
BoomText provides advertising via text message on behalf of such customers as the 900 franchisees of Atlanta-based chicken sandwich purveyor Chick-fil-A Inc., plus Warren Buffett-owned International Dairy Queen Inc., fresh-squeezed juice retailer Jamba Inc. and Oklahoma-based drive-in restaurant chain Sonic Corp.
"We connect brands and businesses to consumers' mobile phones," said Becker. "There is an ocean of technical complexity involved in all that, so that's where we step in."
Projecting Sales Increase
On June 13, the public company said it projected sales of $500,000 for the second quarter of 2011, up 250 percent from sales in the first quarter.
The company went public in a reverse merger in early December with shares trading on the OTC Bulletin Board, market for thinly traded "small cap" companies.
Reid Carr, president...