PROVIDENCE – Boston-based Mobiquity Inc., a professional services firm specializing in mobile-solutions and app development, has acquired Providence-based mobile software maker Vertical Performance Partners, the companies announced Thursday. Financial terms of the deal were not disclosed.
With the acquisition, Mobiquity will offer Velocity, VPP’s customizable software for branded interactive live meetings, events and training sessions, to its clients.
Products from VPP, which was founded in 2010, has garnered attention from the pharmaceutical industry, including Johnson & Johnson and Bristol-Myers Squibb.
“The pharmaceutical and mHealth sectors are key verticals for Mobiquity’s continued growth. The acquisition of Velocity enables us to broaden our client base and provides us another enterprise-class solution we can introduce to our clients,” Bill Seibel, founder, chairman and CEO of Mobiquity, said in a statement. “By combining our professional services capabilities with products and frameworks that target key verticals, we’re able to bring innovative solutions to market faster and at a lower cost.”
The entire VPP team has of five joined the newly formed Mobiquity Velocity Solutions Inc. The segment will led by VPP Founder and CEO Carl Wooten, who will act as vice president and general manager.
Mobiquity Velocity Solutions, a 20-person team, will remain in the VPP space in Providence and a spokesperson told Providence Business News that the company has plans to hire more workers to fill out the office even more.
“This acquisition is a terrific union between two like-minded companies,” Wooten said in prepared remarks. “Now we can extend Mobiquity’s valuable mobile services to our client base, and Mobiquity’s expertise and scale will help us add more features and functionality to our software as well as expand into other verticals.”