Wednesday, January 21, 2015

Hipcricket Files for Bankruptcy, Sells Assets To Sito Mobile For $4.5M

Kirkland, Washington-based mobile marketing firm Hipcricket has filed for Chapter 11 bankruptcy, and has sold its assets to Sito Mobile Ltd., the firms said this morning. The asset sale deal was worth $4.5M in cash. Sito Mobile said that Hipcricket had revenues of $26.7M for the fiscal year ended February 28, 2014. Hipcricket files for Chapter 11 on Tuesday.