The acquisition, LifeMinders said, has a purchase price of $36 million, and
is comprised of approximately 1.25 million shares of LifeMinders common
stock and $1 million in cash.
LifeMinders believes the smartRay acquisition “will accelerate the use of
its personalization technology in the wireless industry.” SmartRay’s
system enables real-time message delivery to digital mobile phones, one- and
two-way pagers, and wireless PDAs. The company also offers a suite of
personalized, profile-driven messages and alerts that target wireless users.
The expanded LifeMinders services will be promoted to LifeMinders existing
customers, as well as more than 20 of its outsourcing clients.
“The robust category offerings and carrier relationships gained through
smartRay, combined with LifeMinders personalization direct marketing
technology and our 18 million member base, positions LifeMinders as the
company most prepared to capture the enormous opportunities of the exploding
wireless industry,” said Stephen Chapin, Jr., chairman, and chief executive
officer of LifeMinders.