DealNet Capital buys Wellington-backed Impact Mobile
DealNet Capital Corp has bought Impact Mobile Inc, a portfolio company of Canadian specialty finance firm Wellington Financial. Under the terms of the purchase agreement, DealNet will pay $500,000 in cash over a period of 60 days from closing, and issue 5.5 million common shares, 1.5 million of which will be held in escrow to retain key Impact Mobile executives. With offices in Toronto, New York and Richmond, Virginia, Impact Mobile provides end-to-end mobile marketing solutions to banks, carriers, brands and retailers. Wellington invested in the company in 2008. Based in Toronto, DealNet is a merchant banking firm.
3 July 2014•3 mins read
