Hipcricket, Inc. (HIPP), a leader in mobile engagement and analytics, has retained the corporate advisory services of Canaccord Genuity to explore and evaluate strategic alternatives with a view to enhancing shareholder value.
“Following an internal review, our board of directors believe the company’s public market valuation does not accurately reflect our strong and growing client base, business pipeline, and value of our intellectual property portfolio,” said Hipcricket CEO, Ivan Braiker. “We intend to consider a full range of strategic alternatives, including possible acquisitions or dispositions of assets, joint ventures, strategic investments, sale of the company or other potential transactions.”
Hipcricket has not set a timetable for completion of the strategic review, and provides no assurance the process will result in a transaction or pursuit of any strategic alternative. The company will not comment further about the process until a specific transaction or direction is approved by the board of directors or the review process has been concluded, or it is otherwise determined that further disclosure is appropriate or required by law.
