Mobile Marketing Platform, Mobiniti, Acquired By Pennspring Capital
FE International, Inc., the global market leader in mid-market technology mergers and acquisitions (M&A), announces the acquisition of Mobiniti, a text marketing platform, by PennSpring Capital.
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Launched in 2014, Mobiniti helps customers expand their sales through mobile marketing and SMS alert efforts through a market-leading software platform. Mobiniti provides text marketing services to more than 1,000 organizations across numerous industries.
Managing Partner at PennSpring Capital Lou Castelli said, “Bryan and Rocco have given their heart and soul to Mobiniti since its 2014 founding, and they have secured an enviable position at the forefront of SMS marketing. We believe that the platform’s total addressable market is effectively limitless, with 92% of Americans owning cell phones and text messages receiving 98% open rates (with 40% engagement). Mobiniti is local to us, and we are honored to begin working with this energetic, creative team toward significant, sustainable expansion.”
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Mobiniti Co-Founders Bryan Hunsinger and Rocco Ciavarella will each retain significant equity, and strategic consulting positions in the company, in partnership with PennSpring Capital. “We are thrilled to join forces with Lou and PennSpring – their financial and operational resources are precisely what we require to build on our prior successes and take Mobiniti to even greater heights,” said Mr. Hunsinger.
FE International served as the sole sell-side M&A advisor on the acquisition of Mobiniti.
“Rocco and Bryan have built a highly scalable business, and I look forward to seeing how, together with PennSpring, they will continue to grow Mobiniti,” said Thomas Smale, CEO of FE International. “It was a pleasure working with the Mobiniti team to ensure a seamless acquisition.”
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