Augme Technologies Completes Restructuring and Announces Promotion of Key
Ivan Braiker Named Chief Executive Officer; Todd Wilson Named
Chairman of the Board and Corporate Secretary
NEW YORK, NY -- (Marketwire) -- 02/25/13 -- Augme(R) Technologies,
Inc. (OTCQB: AUGT) ("Augme") and its wholly owned subsidiary,
Hipcricket(R), Inc. ("Hipcricket") (collectively "the Company"), a
technology and services leader in mobile marketing and advertising,
today announced that Ivan Braiker has been appointed as the Company's
Chief Executive Officer effective March 1, 2013. Mr. Braiker is
currently the Company's President and also serves on its Board of
Directors, and was founder of Hipcricket. Mr. Braiker replaces Robert
F. Hussey as CEO. Mr. Hussey will also be resigning as a director.
"With Augme refocused on growing our Hipcricket business, it is time
to hand the reins to the mobile marketing and advertising leader in
the organization -- Ivan Braiker. Ivan is an enthusiastic champion of
the burgeoning mobile opportunity and the driving force behind the
Company's rapid revenue growth. As a pioneer in mobile solutions with
an industry-leading 250,000 campaign count, we believe that
Hipcricket is poised to build on its leadership position," said Todd
Wilson, who is assuming the role of Chairman of the Board and
Corporate Secretary of Augme Technologies effective March 1, 2013.
"Bob Hussey stepped in as Interim CEO, in September 2012, at a
critical juncture in Augme's history, and in six months time he reset
the Company's strategic priorities, completed two important capital
raises totaling over $13 million and implemented a cost reduction
plan which has helped establish a strong foundation for the Company
to fully realize the value of the Hipcricket brand, thereby making
progress toward achieving operating cash flow breakeven. On behalf of
the Board of Directors, I would like to thank Bob for the many
contributions he made toward improving Augme's overall business model
and financial health," Wilson added.
"I am excited that the Board has asked me to lead Augme into the next
phase of our company's growth. I intend to continue the focus on
driving our core business toward operating profitability and
providing the innovative solutions we are well known for. Finally, I
know everyone at Augme wants to thank Bob Hussey for his leadership
contributions over the past nine months," stated Mr. Braiker.
Mr. Braiker (61) has over 30 years' experience in broadcast media and
has a reputation for leadership that has earned him the respect of
the entire industry. He is a co-founder of Hipcricket Inc. and served
as its Chief Executive Officer from August 2004 until its merger with
Augme in August 2011. Hipcricket was twice named a pioneer by CTIA -
The Wireless Association and has been called "The Preferred Provider
Of High Impact Mobile Marketing Solutions In The United States" by a
leading industry analyst firm. Mr. Braiker was also formerly the
co-founder and president of the Satellite Music Network where he
pioneered 24 hour a day programming. In addition, he founded Olympic
Broadcasting, which became a NASDAQ publicly traded company,
introducing innovative new music formats and creating iconic brands.
He is a frequent speaker at many advertising and media events,
including conferences held by the National Association of
Broadcasters and Radio Advertising Bureau. Mr. Braiker also serves on
the Board of Directors of Abacast, Inc., Vega Performance Marketing,
and Studio One.
Mr. Wilson (41) brings more than 15 years of experience as an
investor, board member and advisor to middle-market companies. He
currently serves as a Partner at Crane Street Capital, a
California-based investment firm focusing on late stage private
companies. From July 2010 to September 2011, Mr. Wilson held the
position of Managing Director for the Office of Small Business
Services for the City of Los Angeles, where he was responsible for
leading the City's efforts to assist small business owners and
entrepreneurs. From July 2002 to December 2009 he served as a
Principal in the private equity group at American Capital, Ltd.
During his tenure as an equity investor, Wilson worked closely with
companies to maximize shareholder value and provide significant
returns on corporate investments. Mr. Wilson also served as an
investment banker at Merrill Lynch and Montgomery Securities prior to
his career in private equity. Mr. Wilson, who holds an undergraduate
degree from The Wharton School of Business and an MBA from the Fuqua
School of Business at Duke University.
About Augme Technologies, Inc.
Augme(R) Technologies, Inc. (OTCQB: AUGT) provides mobile marketing
and advertising solutions and services to leading consumer and
healthcare brands. Selling its products and services under the
Hipcricket brand, Augme's platform has provided measurable successes
in over 250,000 campaigns for its clients, which include many of
America's brand-name leaders (e.g., Macy's, MillerCoors and Clear
Channel) in a variety of industries, along with their agencies.
Augme's offerings allow marketers, brands, and agencies to plan,
create, test, deploy, and track mobile marketing programs across
every mobile channel, including SMS, MMS, 2D/QR codes, mobile
websites, advertising networks, social media and branded apps.
Augme's AD LIFE(R) platform facilitates consumer brand interaction
and the ability to track and analyze campaign results. Using its own
patented device-detection and proprietary mobile content adaptation
software, AD LIFE(R) solves the mobile marketing industry problem of
disparate operating systems, device types, and on-screen mobile
content rendering. Augme also provides business-to-consumer
solutions, including national mobile couponing campaigns, strategic
mobile healthcare tools, custom mobile application development, and
consumer data tracking and analytics. In addition to AD LIFE(R),
Augme in 2011 acquired the assets of Hipcricket, Inc. and JAGTAG,
Inc. and licenses the digital broadcast platform BOOMBOX(R). Augme is
headquartered in New York City, with operations in Seattle, Atlanta,
Dallas, Los Angeles, San Francisco, Chicago, Miami and Tucson. For
more information visit www.augme.com or www.hipcricket.com.
Augme Technologies(TM), Hipcricket(R), Augme(R), AD LIFE(R),
BOOMBOX(R), AD SERVE(R) and the Augme logo are trademarks of Augme
Technologies, Inc. All rights reserved. 2009-13.
This release includes forward-looking statements. All statements
regarding the expected results of our restructuring and our expected
future financial position, including management's revenue guidance,
results of operations, cash flows, financing plans, business
strategy, products and services, competitive positions, growth
opportunities, plans and objectives of management for future
operations, as well as statements that include words such as
"anticipate," "if," "believe," "plan," "estimate," "expect,"
"intend," "may," "could," "should," " and other similar expressions
are forward-looking statements. All forward-looking statements
involve risks, uncertainties and contingencies, many of which are
beyond our control, which may cause actual results, performance, or
achievements to differ materially from anticipated results,
performance, or achievements. Factors that may cause actual results
to differ materially from those in the forward-looking statements
include those set forth in Augme's Form 10-K for the year ended
February 29, 2012 and more recent reports and registration statements
filed with the SEC. Augme Technologies, Inc. is under no obligation
(and expressly disclaims any such obligation) to update or alter such
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Relations Contact:
Stephanie Prince / Jody Burfening
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