Mobile search and advertising leader Call Genie announced yesterday that it has begun the process of acquiring VoodooVox.
The deal, which Canadian Business reports is worth $2.8 million, will allow Toronto-based Call Genie to expand its mobile advertising services. Using VoodooVox’s detailed demographic information on phone numbers, Call Genie plans to pursue pay-per-call advertising.
Call Genie CEO Michael Durance said in a statement, ”The more pay per call advertisers know about their callers, the more success they’ll have with their campaigns. Our goal is to create a smarter mobile ad network, and VoodooVox gives us audience insights that benefit key stakeholders in the mobile advertising ecosystem.”
The acquisition is expected to be finalized in January 2012 and will involve Call Genie issuing 11,250,000 common shares of its stock and paying $1.8 million cash to VoodooVox shareholders.