GetGlue and Viggle have dropped plans to merge, although both parties admittedly remain friendly with one another and eager to move forward independently.
“Today we’ve decided that GetGlue will not be merging with Viggle,” an announcement on the GetGlue website reads.
We are moving forward as an independent company, and all of us at GetGlue are excited about growing our social network and the leadership position on the second screen.
Touting a strong product and partnership pipeline for 2013, GetGlue is reminding the masses that it still looks forward to the year ahead while expanding relationships with major networks, studios and brands.
Initial plans for the merger were announced last fall, when Viggle agreed to acquire GetGlue for $25 million in cash and 48.3 million shares of the company’s stock.
So far, reactions to the news have been mixed. According to one poster on the GetGlue website:
I was really looking forward to the merger. I really do prefer Viggle’s software. That combined with what get glue offers would have been fantastic. It will be interesting to see the 2 products as they grow separately.
Other opinions were also shared, with one commenter expressing optimism about the decision.
I suspect this is a good decision. You need to grow the market, add features and show value before you can really grapple with the value of any M&A. They say that the effort that goes into a merger which then doesn’t come about can be really harmful for a company and I can understand why. Hopefully, you guys still have energy in your tank, that R&D has still been going on and we can look forward to on-going GetGlue progress and excellence.
Where do you stand on news of the missed merger opportunity?