Mobile Commons Acquired By Upland Software
December 16, 2014 Patrick Sullivan
Upland Software in Austin, Texas has acquired Mobile Commons, a digital strategy and product purveyor in Brooklyn, N.Y. “This acquisition brings a powerful form of digital engagement to our Enterprise customers. It is another great example of the type of strategic acquisitions that we are actively pursuing, and that our recent IPO enables us to accelerate,” said Upland Chair and CEO Jack McDonald via a statement.
The deal closed on Dec. 10, and Upland paid approximately $5.1 million for Mobile Commons. There will be no changes to Mobile Commons’ staff and the two co-founders will remain in leadership roles, said Karoline McLaughlin, Upland spokeswoman.
Upland makes workflow, financial and web content management software, and Mobile Commons is the eighth company that Upland has acquired in three years. Mobile Commons’ services will be a standalone offering, and will integrate with some of Upland’s existing products, McLaughlin said. Mobile Commons offers text message-based advocacy and fundraising tools, text-based information services, a mobile constituent relationship manager (CRM) and telemarketing capabilities.
Upland (UPLD), a newcomer to the NASDAQ stock exchange, entered the market on Nov. 6 at $11 per share. The stock climbed to $12.10 on Nov. 28 and closed yesterday at $9.93. According to financial reports, the company has a market capitalization of $145.7 million, and its revenue has grown 80 percent in the past 12 months.
Mobile Commons counts among its nonprofit customers Human Rights Campaign, Planned Parenthood Federation of America, DoSomething.org and the Humane Society of the United States. “It’s exciting to have a large number of nonprofits be part of our customer base,” said McLaughlin.