This morning, in a surprise social TV acquisition, Viggle agreed to buy social check-in app GetGlue. The announcement went live this morning in a tweet by GetGlue CEO Alex Iskold: “Viggle will pay $25 million in cash and 48.3 million shares of stock for GetGlue.”
According to a press release, “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 experience and provide industry leading platforms for consumers, networks and advertisers. We will also be vastly increasing the Viggle user base and quadrupling our networks 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.”
Iskold said, “We are very excited to join forces with Viggle! GetGlue has built a Social TV product that people love, and Viggle has become their favorite loyalty program for TV. Together we are positioned to deliver the next generation second screen experiences that delight and benefit users, networks and major brands.”
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Megan O’Neill is the resident web video expert here at Social Times. Megan covers everything from the latest viral videos to online video news and tips, and has a passion for bizarre, original and revolutionary content and ideas.