From VWD.com NeoMedia Signs Letter Of Intent To Acquire Visual Search Pioneer, Mobot
Another physical world connection player gets bought out.
NeoMedia Technologies, Inc. an innovator in wireless services and patented technologies that provide automatic links to Internet-based information, today announced that it has signed a Letter of Intent to acquire Mobot, Inc., of Lexington, Massachusetts, a pioneer in mobile visual and recognition technology
TelecomWeb calls it "the marketing wedding of the year"
Mobot, has partnered with media companies, including Warner Music Group, JANE magazine, ELLEgirl, and VIBE magazine, and with advertisers, including L'Oreal, Samsung and Saturn, to launch interactive campaigns across wireless carriers that required no changes to existing visual media.
Like NeoMedia, Mobot connects the real world to the digital world via mobile camera phones
The non-binding LOI set terms for the acquisition of Mobot for an aggregate of cash and NeoMedia stock totaling up to $11 million, including interest-bearing bridge loans to Mobot of up to $1 million
These two combining forces could be very interesting.
I have commented on Mobot a few times 1 , 2, 3