Onswipe founder and Chief Marketing Officer Jason Baptiste suggested that bringing the two companies together will allow them to create “an end-to-end technology stack for publishers” by combining Onswipe’s mobile-focused publishing tools with Beanstock’s Helix platform for managing ad inventory.
Fortune reported last week that Onswipe was nearing a sale to Beanstock, and, citing a private note from CEO Jonty Kelt, said this was a “soft landing” that would provide no return for the company’s investors.
However, Spark Capital‘s Alex Finkelstein (Onswipe raised a $5 million Series A led by Spark in 2011) told me that the story was “factually not accurate” and noted that his firm will be getting equity as part of the deal.
“We’re very happy to be shareholders in Beanstock,” Finkelstein said. He acknowledged that the company may not be as well known to TechCrunch readers as Onswipe, but that’s partly because it was self-funded and profitable.
Baptiste told me that the acquisition involved an undisclosed amount of cash and stock. Of the 28-person Onswipe team, 24 will be joining Beanstock, he said (including all of its executives), creating an 80-person organization.
Baptiste added that Onswipe will continue to work with its existing publishers, but over time, there will be more integration with the Helix platform. The idea is to offer a number of publisher tools under the Beanstock umbrella, starting with Helix and Onswipe.
“We were both going in the same direction from different sides — Onswipe from the content supply side, Beanstock from the ad technology side,” he said. “This lets us get to where we want to be as a business quicker.”