BELLEVUE, WA--(Marketwired - Feb 18, 2014) - Hipcricket, Inc. (OTCBB: HIPP) (OTCQB: 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.
Hipcricket, Inc. provides a unified mobile engagement platform that drives awareness, sales and loyalty. The company's AD LIFE® platform has been used by internationally recognized brands and agencies to power more than 400,000 campaigns across SMS, 2D/QR codes, mobile websites, advertising networks, social media and branded apps. Hipcricket is headquartered in Bellevue, Washington. For additional Hipcricket news and information, please visit www.hipcricket.com or text "NEWS" to 24474.
Hipcricket®, Augme Technologies™, Augme®, AD LIFE®, BOOMBOX®, AD SERVE® and the Hipcricket and Augme logo are trademarks of Hipcricket, Inc. All rights reserved. 2009-14.
Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts contained in this release, including any statements regarding our plans for future operations, anticipated future financial position, anticipated results of operations, financing plans, business strategy, competitive position, opportunities for growth and industry trends, are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control. Our actual results, performance, or achievements may differ materially from those projected or assumed in any of the forward-looking statements. Factors that could cause actual results to differ materially from the forward-looking statements include, among others: overall economic and business conditions; the demand for our products and services; competitive factors in our industry; the emergence of new technologies; our cash position; the availability of funding sources; the strength of our intellectual property portfolio; and changes in government regulations in our industry. A more detailed discussion of these factors is set forth in our annual report on Form 10-K for the year ended February 28, 2013 and other reports filed with the U.S. Securities and Exchange Commission. The Company does not intend, and undertakes no duty, to update any forward-looking statement to reflect future events or circumstances.