SPOTLIGHT: NeoMedia ends deal with HipCricket

NeoMedia, which gained some notoriety from its aggressive spending sprees, said its $4.5 million deal to acquire HipCricket won't go through since the two weren't able to come to an agreement on the terms of the merger. HipCricket, a developer of custom mobile-marketing campaigns, owes NeoMedia $500,000 for two loans that must be paid within three months. Earlier this year, NeoMedia embarked on a $60 million buying spree, grabbing a host of mobile-marketing start-up companies both domestically and abroad. It hasn't faired too well with the strategy though. The company lost more than $9 million last year. Article

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