Fishers-based Vibenomics acquired
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Fishers-based marketing tech company Vibenomics Inc. has been acquired by Austin, Texas-based Mood Media, the companies announced Tuesday.
The acquisition closed Monday. Vibenomics declined to disclose financial terms of the deal.
Vibenomics CEO Brent Oakley will remain with the company as president of Vibenomics and executive vice president of Mood’s advertising division.
Oakley said Vibenomics will now do business under the name of Vibenomics, a Mood Media Company, and all of 45 employees will remain.
“Our whole team plans on staying here in [Fishers],” he said.
Vibenomics uses cloud-based technology, data integration capabilities, a licensed library of background music and on-demand professional voice talent to deliver music, audio advertising and messaging to in-store customers. The company, originally called Fuzic, has raised about $34 million in investment capital since its 2016 launch.
The acquisition means Vibenomics is now part of a much larger company. Pre-acquisition, Vibenomics audio was broadcast in about 7,000 retail locations around the U.S.—including about 2,300 Kroger grocery stores and another 400-plus of Iowa-based Hy-Vee’s grocery stores and Hy-Vee Fast and Fresh convenience stores.
In comparison, Mood has more than 900 employees and a presence in more than 500,000 locations worldwide, with customers that include restaurants, car dealerships, health care providers, financial institutions, hotels and others. Mood provides music, digital signage, scent marketing and other services to its clients.
In addition to its Austin headquarters, Mood also has offices in Redmond, Washington, and in the Charlotte, North Carolina, suburb of Fort Mill, South Carolina. Mood also has some 30 international offices in Europe, the Middle East, Africa, Latin America and the Asia-Pacific region.
“Mood is the largest gorilla in this space,” Oakley said.