Austin-based Perk.com finalized its purchase of Viggle Inc., a mobile rewards and applications business, on Monday morning.
Perk.com, which is a mobile rewards software company, paid Viggle 1.37 million shares, and had previously loaned Viggle $1 million, which has since been repaid, according to a Perk press release. When the deal was announced in December those shares were worth $4.7 million.
“Viggle is a premium rewards platform that has direct relationships with many well-known brands,” Perk.com CEO Ted Hastings said in a written statement. “The acquisition of Viggle Assets has brought Perk to the forefront as a market leader with over 20 million combined registered users.”
Viggle, which is based in New York, allows its members to earn rewards for watching TV shows, discovering new music and playing interactive games.
Perk.com, which was founded in 2009 as Jutera Labs Inc., launched its mobile rewards program platform in 2013. Perk.com operates 15 mobile apps that allow members to earn Perk Points through activities including shopping, watching videos and playing social games.
The points can be redeemed for gift cards or cash, or can be loaded on a branded debit card. Perk.com generates revenue through advertising on the mobile apps. As of last year, Perk.com had 160 employees, including 50 in Austin.
Hastings said the Viggle acquisition will help establish Perk’s presence with brands and agencies in other cities: New York, San Francisco and Los Angeles.
“We intended for Viggle’s offices to act as a complement to our existing U.S. locations in Austin and Palo Alto and expect to grow the Perk and Viggle brands through the relationships Viggle has developed with leading consumer brands,” Hastings said.
In July, Perk.com joined the Toronto Stock Exchange after merging with another company. This is Perk.com’s fourth acquisition in the past year.