The Mobile shopping platform that few have ever heard of before (nor does it even have more than a holding page as a website) Bee Media Inc. announced Monday the acquisition of what was left of Adcentricity Inc.
There were obviously changes underway at Adcentricity for some time and over the last six months they were seemingly in trouble; shedding staff and closing offices like there was no tomorrow; Ian Dobson Leaves Adcentricity (September 2011), Adcentricity Lays Off More Staff (December 2011), etc.
The press release tries to nicely spin the story – the ‘leading-edge-location-based-digital-media-company-with-holding-page-as-we-putting-the-finishing-touches-on-our-new-site acquire company shedding staff’ headline didn’t feature for some reason – makes mention of “two new products that make it easier for advertisers to develop hyper-local campaigns” and the keeping of the Adcentricity name (going forward Bee Media will operate as Adcentricity) with Doug Woolridge, CEO of Bee Media, remaining at the helm as the CEO.
Rob Gorrie, former CEO of Adcentricity, will stay on with the company as a Senior Strategic Advisor (which we all know is doublespeak for “he will NOT be staying on with the company”).
The press release finished with the fact that key executives from both companies will remain as part of the new Adcentricity including Brad Alles, SVP Business Development, Jeff Atley, VP Business Development and Laurie Freudenberg, Chief Operating Officer (but if folks were honest there were few left at Adcentricity to re-hire).
Bottom line, whatever IP Adcentricity owned, Bee Media bought it AND it is proof that there is always a buyer out there if you have created value somehow. No price was given for the acquisition.
Anyway, it’s another acquisition that we can ask Bill Gerba to add to his M&A list (which we are hoping to get him to walk through at the Digital Signage Investor Conference in October in New York City).