Poynt says it acquired all source code, related documentation and all of Go2′s transferable publisher and advertiser agreements related to the monetization or distribution of location advertising, for a purchase price of only $450,000.
Go2 Media is led by CEO Dan Smith, former SVP of Product and Operations for 80108 Media, a local SMS business that merged with Go2 in 2007.
Poynt points out that the company’s ad publishing operations are producing revenue, and says it aims to leverage its position in the local advertising space to accelerate the revenue growth.
The business line will be led by Matt Kojalo, who Poynt recently hired as VP of Global Advertising Solutions.
Says Andrew Osis, chief executive of Poynt:
“This transaction provides us the opportunity to expand our business from an app with publishing capabilities into an ad publishing platform with the ability to publish to multiple mobile applications. This clear and direct route into ad publishing provides yet another revenue stream for the company.”
Poynt Corporation builds the multi-award winning all-in-one location-based search application, Poynt for BlackBerry smartphones, iPhone and iPod Touch, Android and Windows Phone 7 devices. Poynt fuses search with find, providing users with a simple, intuitive tool to find up-to-date information for businesses, retailers, restaurants, movies, events, weather information, gas prices, people and more â€“ all at the users’ fingertips, when and where they need it. Poynt takes full advantage of the capabilities of each mobile platform. This seamless integration transforms mobile...