Sichenzia Ross Friedman Ference LLP Represents SITO Mobile in $3.7M Acquisition of Hipcricket Inc.’s Mobile Advertising Business
Press Release – New York, NY – July 14, 2015 – New York based securities and corporate law firm Sichenzia Ross Friedman Ference LLP (“SRFF”) announced today that the Firm has represented SITO Mobile, Ltd. (OTCQB: SITO), a leading mobile engagement platform provider, in its acquisition of Hipcricket Inc.’s mobile advertising business. In exchange, Hipcricket received 6,205,602 shares of SITO Mobile’s common stock valued at $2.4 million and $1.3 million for a total purchase price of $3.7 million.
SITO Mobile’s acquisition will provide the company access to new revenue streams through Hipcricket’s existing customer relationships. Additionally, SITO Mobile plans to expand its product offerings by implementing technology from Hipcricket’s adServe platform.
The Sichenzia Ross Friedman Ference LLP team was led by Partners Gregory Sichenzia, Marcelle Balcombe and Counsel Peter DiChiara.
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