Bridgeline Digital acquires Texas-based MarketNet

Bridgeline Digital announced that it has acquired MarketNet, expanding its North American presence and building the iAPPS distribution network into the South Central U.S, marketplace. Bridgeline Digital acquired MarketNet for $1.2M, in a combination of cash, common stock, and earn-out consideration based on certain future financial performance. MarketNet's Founder and Principal Owner, Jill Bach and VP, Alan Bach have joined Bridgeline Digital's leadership team. As part of Bridgeline, Alan will be the SVP and General Manager for the Texas region and Jill will be the SVP of Engagements. Bridgeline Digital also announced today that it has received subscriptions from select accredited investors for gross proceeds of $2.5M in a private placement offering. Taglich Brothers, Inc. acted as placement agent on the transaction. Bridgeline intends to use the proceeds of the offering for working capital to support its recent alliance with a Fortune 500 company, general working capital, and for potential future expansion acquisitions.