HipCricket Acquired by Little-Known Augme

Yesterday Augme Technologies, which recently purchased 2D barcode marketer JAGTAG, announced the acquisition of SMS mobile marketing pioneer HipCricket. The purchase price of was $44.5 million ($6 million in cash and $38.5 million in Augme stock). There's also an earnout that could yield an additional $27.5 million.

The HipCricket team will be retained by Augme, which has been until now an off-the-radar mobile marketing company. The addition of HipCricket, together with the JAGTAG assets, will provide a revenue boost and a new client base, as well as a broad array of tools and new capabilities. 

HipCricket began as an SMS-based marketing platform in 2004 but more recently started to offer a wider array of mobile marketing capabilities, as well as launching an ad network. HipCricket clients include Nestle, Macys, ClearChannel, Coors and others. 

The structure of the deal (mostly stock from a little-known company) suggests that HipCricket was actively trying to sell itself.