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Marchex buys Sonar Technologies, names new revenue chief

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Marchex buys Sonar Technologies, names new revenue chief

Marchex Inc. acquired Sonar Technologies Inc., an enterprise text and messaging sales engagement and analytics company, for $12.5 million in cash and stock.

As part of the total consideration, Marchex will make contingent payments of up to $1.5 million in stock, subject to certain sales performance targets in 2020. In addition, Marchex will issue restricted stock units up to $1 million to certain employees of Sonar Technologies, subject to vesting over four years.

The combined company will offer a "unified view of the customer across voice and text communication channels, such as calls, text and messaging," according to a Dec. 17 news release.

The mobile advertising analytics company does not expect the acquisition to have any meaningful impact on its results of operations for the remainder of 2019. For 2020, Marchex expects the acquisition to have a small accretive impact to adjusted OIBA on a non-GAAP basis.

Marchex also appointed John Roswech as chief revenue officer of the company. Roswech will lead the company's sales and customer success organizations. He most recently was the executive vice president of Criteo Brand Solutions for Criteo SA.