In a surprise acquisition, Viggle has acquired social TV startup GetGlue. GetGlue CEO Alex Iskold made the announcement via his Twitter account just under an hour ago. According to the announcement, ?Viggle will pay $25 million in cash and 48.3 million shares of stock for GetGlue.? Additionally, ?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.? Here?s the full story.
Big news! Social TV Leaders Viggle and GetGlue Enter into Agreement to Merge marketwatch.com/story/social-t?
All 34 GetGlue employees will also be absorbed by Viggle as part of the deal. GetGlue?s ?�more than 3.2 million registered users as well as a database with more than 500 million entertainment ratings and check-ins? will combine with Viggle?s ?1.2 million registered users ? for the ultimate social TV brand. Over a year ago, GetGlue ran a very successful campaign with the GAP and EW to offer a 40% discount to fall TV viewers. Since then there haven?t been many opportunities like that across their platform. With Viggle?s expertise at offering points to redeem real items, this could be the perfect business model to compliment the experience. Here are the questions that still remain.
Will both platforms merge together to become one? Will the GetGlue name go away? Will the Viggle name go away? Will the loyalty program override checkins? What will happen to the new GetGlue HD? We predicted there would be a nasty battle over the second screen. With this announcement the battle just got more intense.
See also: What this acquisition means for the battle over the second screen
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