Simplicity Marketing Ltd. acquired Spongecell Inc. from Safeguard Scientifics, Inc. and others.
January 28, 2018
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Simplicity Marketing Ltd. acquired Spongecell Inc. from Safeguard Scientifics, Inc. (NYSE:SFE) and others on January 29, 2018. The deal is an all-stock transaction. The combined company will operate under the Flashtalking brand. The Spongecell brand will be retired as a result of the merger. Spongecell co-founder and Chief Executive Officer, Ben Kartzman will join Simplicity Marketing as Chief Operating Officer while co-founder Anthony Yam will become Senior Vice President of product at Simplicity Marketing. Safeguard Scientifics, Inc. will maintain one Board seat of the combined company and has an initial ownership interest of 10.3%. Needham & Company acted as financial advisor to Spongecell.
Simplicity Marketing Ltd. completed the acquisition of Spongecell Inc. from Safeguard Scientifics, Inc. (NYSE:SFE) and others on January 29, 2018.
Safeguard Scientifics, Inc. is a provider of capital and relevant expertise to technology-driven businesses. The Company offers strategic, operational and management support to certain of its ownership interests, which include defining short and long-term strategic goals; identifying and planning for the critical success factors to reach these goals; identifying and addressing the challenges and operational improvements required to achieve the critical success factors and, ultimately, the strategic goals; identifying and implementing the business measurements that the Company and others are apply to measure a companyâs success; and identifying sources of and providing capital to drive growth. It also continues to hold relatively small equity interests in other enterprises where it does not exert significant influence and do not participate in management activities. The Company's subsidiaries include Bonfield VII, Ltd., Safeguard Delaware, Inc., SFE Properties, Inc., and others.
SAFEGUARD SCIENTIFICS, INC. 
