Hearsay Systems is announcing that it has acquired technology and intellectual property from Mast Mobile.
The Mast service allowed businesses to manage work and personal numbers on a single mobile phone, and to connect those phones to their customer database. It was backed by Samsung, FirstMark Capital and others.
Hearsay, meanwhile, offers marketing and communication tools for the financial services industry. It says that Mast’s technology will be used to improve Hearsay Messages, its product for financial advisors to text message their clients without violating regulations.
“Financial services firms are faced with balancing their regulatory responsibilities with today’s bring-your-own-device reality,” said Hearsay’s vice president of product Gaurav Agarwal in the acquisition announcement. “Advisors want to use their own mobile phones for business, but still keep their personal and business activities separate. Mast Mobile has had a fantastic record of developing successful enterprise communication solutions in the mobile space.”
The financial terms of the deal were not disclosed. It sounds like the acquisition is focused on Mast’s product rather than its team, though Hearsay said Mast CEO David Messenger will remain involved as an advisor.