Jagtag, a mobile technology and marketing firm — and a pioneer in QR code technology — will be acquired by Augme Technologies for $5.3 million.
Jagtag, headquartered at 234 Nassau Street, develops and uses 2D barcodes to deliver digital media to all mobile phones, not just smartphones, without the consumer having to download apps. The technology allows companies to deliver brand images that will reach anyone, regardless of how sophisticated any user’s phone technology is.
Calls to Jagtag went unanswered.
According to Augme, which is based in New York, the company wants to use Jagtag’s multimedia messaging service (MMS) technology to promote its consumer packaged goods clients, which in turn want to reach a larger audience than just those consumers who have smartphones. In June Jagtag patented a system that allows MMS ads to reach consumers based on location. The technology factors in geographical information — right down to the weather conditions — to allow ads to be hyper-focused and specific. It also features a tracking system to study how effective a campaign is.
The acquisition adds Jagtag’s clients, which include Unilever, PepsiCo., Estee Lauder, and Sony, to Augme’s roster.
According to Augme, Jagtag will keep its name but will lose its Princeton presence when its employees are relocated to Augme’s New York headquarters.
Jagtag CEO Ed Jordan will serve as CFO; Augme’ s CEO, Paul Arena, will act as Jagtag’s CEO as well. The deal is expected to close by August 1.
Jordan took over as Jagtag’s CEO in 2010 after company founder Dudley Fitzpatrick left to start DuoMentis, a New York-based company similar to Jagtag. Prior to Jagtag Jordan was the CFO of Flarion Technologies, a wireless infrastructure company that was sold to Qualcomm in 2006 for $805 million.
Before that he was a co-founder of ITXC Corp, a wholesale VoIP carrier that employed hundreds in Princeton it was acquired by Teleglobe International Holdings in 2003. Jordan served as CFO and as a director. In 2002 the New Jersey Technology Council named Jordan the “CFO of the Year.”
#b#JAGTAG#/b#, 234 Nassau Street, Princeton 08542; 609-367-9911. Ed Jordan, CEO. www.jagtag.com