Here’s a tool that almost everyone in digital marketing has used at some point of time, while others in the space can’t do without. We’re talking about link tracking and shortening tool and website Bitly which is otherwise also referred to as Bit.ly. Just because of the sheer volumes of people using this website/tool, they’re a leader in the tech industry in their own way.
Today, we’re here to announce a special deal which will always remain close to the hearts of everyone in the top management at Bitly, because they recently completed what is their first acquisition. They’ve gone on to acquire a leading QR code company based out of Germany called Egoditor GmbH who you may know better for their flagship product, QR Code Generator.
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This too is a tool that millions of people are using and once you get used to it, it’s something you can’t do without, so we think this is a perfect association between the two brands. The terms of the deal were not disclosed but Bitly CEO Toby Gabriner revealed that it’s a cash-and-stock deal.
Once completed, the merger and acquisition deal will result in a combined company that boasts of 325,000+ paying customers, 5+ million active users, 180 employees and $75+ million in annual revenue. Irrespective of the names of the two companies, this surely sounds like a good deal to us.
The company first pondered building its own QR code software but the deal sounded sweeter when they decided to partner with Egoditor, because their QR Code Generator has been a leader in their space for over a decade now. For more updates on similar business deals in the tech space, make sure you stay tuned to ReadScoops.com…
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