November 20, 2006 at 7:10 pm · Authored by Ewan · Filed under Mobile, Mobile Marketing, Mobile Services

Link: Netimperative - PloneArticle_view

Sponge co-founders Dan Parker and Alex Meisl have announced the successful completion of their purchase of Sponge from its former owners, NeoMedia Technologies Inc.

Neomedia originally bought Sponge in February 2006. However, the original purchase agreement included a purchase price guarantee clause. This meant NeoMedia had to make up, in cash, any decrease in the value of shares issued as consideration for the acquisition of Sponge. Based on NeoMedia’s current share price, this obligation would have been in excess of $10.0m.

Smart chaps Dan & Alex, eh?