Mobile marketing technology company Fiksu has been acquired by Noosphere, a global asset management firm that strives to “transform high-potential companies into definitive market leaders.” Terms of the deal were not disclosed.
Founded out of Boston in 2008, Fiksu has hitherto helped brands and marketers reach their target audiences through mobile, with a platform that offers actionable data and audience segmentation tools. The company had raised north of $16 million in equity funding since its inception, including a $10 million round back in 2012. It later secured $10 million in debt financing from Silicon Valley bank to grow its platform globally.
Things haven’t been looking great for Fiksu for some time, however. The company ditched plans to go public back in early 2015, at the same time as it shed 10 percent of its workforce, or 26 people. Around six months later, another 25 employees were laid off in the U.S., and a number of international offices were shuttered.
Now, Fiksu will operate as part of ClickDealer, a performance marketing agency based in Menlo Park, California. It will continue to work under the Noosphere umbrella, alongside a number of other ad-tech companies. And Fiksu founder and CEO Micah Adler is keen to put a positive spin on the acquisition, despite the company being a recent contender to IPO.
“As experts in transforming high-potential companies into definitive market leaders — with a diverse set of advertising technology businesses in their portfolio — Noosphere not only saw an incredible opportunity in Fiksu but also noted the remarkable synergy of our teams,” Adler said in a blog post.
“I’m incredibly proud of what we’ve built over these past five years and grateful to the entire team that has contributed — and excited about our transition into ClickDealer and Noosphere and driving the evolution and innovation of mobile advertising,” he continued. “Thank you to the entire team, past and present, and I’m looking forward to the next chapter.”
We reached out to Fiksu to confirm what happens now to its brand and existing clients and can confirm that the “Fiksu” name will continue, though they’ve yet to figure out exactly how the two companies will combine. And it will be business as usual for its existing customers.