Viggle to acquire GetGlue for $25M cash and 48.3M shares

Viggle Inc., the television loyalty service, is to acquire GetGlue, the social TV app. Viggle will pay $25 million in cash and 48.3 million shares of stock for GetGlue. Viggle Inc. will operate the Viggle and GetGlue brands, and GetGlue founder and CEO Alex Iskold will join Viggle Inc. in a senior executive position on its management team and as a member of its Board of Directors. Viggle will also absorb all 34 GetGlue employees.

Robert F.X. Sillerman, Executive Chairman and CEO of Viggle said,“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.”

Founded in 2007, New York City-based GetGlue has than 3.2 million registered users as well as a database with more than 500 million entertainment ratings and check-ins. GetGlueHD provides customers with a TV guide for the mobile era, listing both TV and online content in calendar form.

Today’s deal is another in a series of recent acquisitions by companies run by Sillerman. In the past five months, Sillerman’s SFX Entertainment bought two Electronic Dance Music companies – Disco Donnie Presents and Life in Color, (formerly Dayglow).

USA, New York