Options Media Group Acquires Illume Software for Undisclosed Sum
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=855d4ee5-3919-4f39-8b46-2458ae6f1d4f&Preview=1 -
Date
2/1/2012 -
Company Name
Illume Software -
Mailing Address
75 Second Avenue Needham, MA 02494 -
Company Description
Illume Software develops solutions that leverage location to power high-value applications and services. Our first product, iZUP, offers a responsible solution to cell phone-related distracted driving. iZUP harnesses the power of GPS, the pervasiveness of cellular networks, and the new emphasis on intelligent solutions to real-world problems. -
Website
http://www.illumesoftware.com -
Transaction Type
M&A -
Transaction Amount
Undisclosed -
Transaction Round
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Proceeds Purposes
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M&A Terms
Under the terms of the definitive agreement, Illume will become a wholly-owned subsidiary of Options Media. The shareholders of Illume will own 40% of the post-merger company. The completion of the acquisition is contingent on Options Media receiving financing in connection with the acquisition and for ongoing operating costs.
