News by Andrew Kameka on Monday November 19, 2012.
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GetGlue and Viggle, two companies that have competed in the niche social TV market, have announced that they will merge into one company but maintain separate apps for Android and Apple iOS. Viggle, which offers users reward points that can be redeemed for prizes, has agreed to acquire GetGlue, which focuses on check-ins and connecting fans of the same broadcasts, for $25 million and 48.3 million shares of stock.
Viggle will manage both brands but absorb all 35 GetGlue employees, including founder and CEO Alex Iskold. GetGlue and Viggle users will continue to be able to use whichever app they prefer, according to today's announcement. It appears that the deal is designed to leverage a combined audience of nearly 4.5 million registered users - more than 3.2 million for GetGlue and 1.2 million for Viggle - to monetize their apps. The announcement also makes reference to adding new features to both products, so some technologies may flow from one app to the other as they begin traveling down a common path.
"With this deal, we are combining very experienced and creative product, engineering and management teams that will continue to build great user experiences and provide industry leading platforms for consumers, networks and advertisers. We will also be vastly increasing the Viggle user base and quadrupling our network partnerships. Viggle and GetGlue users can look forward to using the apps they have come to love as we add new and appealing features made possible by the combined resources of this clear industry leader." - Robert F.X. Sillerman, CEO of Vigglesource: Viggle
Andrew is based in Miami, Florida.