UpSNAP, a provider of mobile content and services, is merging with Mobile Greetings.
Mobile Greetings, which is based in Walnut Creek, Calif., has developed a platform for delivery of mobile content, such as multimedia. It is privately held.
UpSANP (Nasdaq: UPSN.OB) also said it plans to raise $3 million through a sale of securities.
The combined company will be able to deliver content to mobile phone users regardless of network provider or device, UpSNAP said in a statement.
"Our media customers are calling for integrated mobile solutions that enable them to offer content and advertising direct to any mobile user," said Tony Philipp, UpSNAP’s chairman and chief executive officer.
“By combining our best of breed voice services, with the innovative mobile platform provided by Mobile Greetings, we intend to provide a powerful set of services to any mobile user,” he added. “This will allow us to extend our advertising supported free offerings and search platform, which may now include music, news, and sports content as well as rich media content.”
Mobile Greetings shareholders will receive shares equal to 50 percent of the common stock of the combined company.
UpSNAP shares closed at 29 cents in trading Tuesday.
