The deal, which Canadian Business reports is worth $2.8 million, will allow Call Genie to expand its mobile advertising services. Using information from VoodooVox’s Analytics product, Call Genie plans to pursue pay-per-call advertising. Pay-per-call advertising is similar to pay per click; a unique phone number is assigned to a mobile or web-based ad which will ring to a business’s main line when dialed. Every time a customer dials the number, the company pays a fee to the advertiser.
Call Genie CEO Michael Durance said in a statement, ”The more pay per call advertisers know about their callers, the more success they’ll have with their campaigns. 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 finalized in January 2012 and will involve Call Genie issuing 11,250,000 common shares of its stock to VoodooVox shareholders. Call Genie will pay VoodooVox shareholders $1.8 million cash over an undisclosed period of time.
Call Genie also recently acquired mobile advertising company UpSNAP in the fourth quarter of 2011. The company is based in Toronto, Canada and maintains offices around the world.
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