Austin's Upland Software snaps up mobile marketing firm

Posted March 15th, 2016

Austin-based Upland Software has snapped up another company,  purchasing mobile marketing firm Hipcricket.

Founded in 2013 by Austin software executive Jack McDonald, Upland has grown by buying small software companies that have promising technology but are unlikely to break out as large independent players.

Upland, which has made at least 10 acquisitions, sells software tools aimed at helping workers increase productivity, collaborate, manage content, work more efficiently and track resources and projects.

Jack McDonald, CEO of Upland Software

Today, Upland's products are used by 1,600 customers and 225,000 workers worldwide.

Hipcricket, based in Bellevue, Wash., uses mobile messaging to launch promotional campaigns. The company said its platform has run more than 400,000 campaigns.

Last year, Hipcricket filed for Chapter 11 bankruptcy and its assets were acquired by SITO Mobile for $4.5 million. At that time, Hipcricket had annual revenue of $26.7 million and owned 21 U.S. patents, according to filings.

Hipcricket will be combined with Mobile Commons, Upland's mobile messaging service, to create a new mobile messaging platform, McDonald said.

"We are very pleased to welcome Hipcricket and its valued customers to the Upland family," McDonald said in a written statement. "Mobile Commons and Hipcricket have powered some of the most successful mobile activations in history, from groundbreaking political campaigns to international marketing initiatives."

Upland raised $46 million in an initial public offering of stock in 2014. Last year, it announced it had secured a $60 million credit facility that would allow it to continue its strategy of acquiring more companies.

Shares of Upland were trading at $6.25, up 9 cents, or 1.46 percent, in mid-day trading on Tuesday. 






Comments