San Diego, CA – Capstone Partners LLC, a leading investment banking firm, announced that it has successfully advised DoApp, Inc. ("DoApp") on its acquisition by NEWSCYCLE Solutions, Inc. (“NEWSCYCLE”). Capstone Partners acted as financial advisor to DoApp on this transaction, the terms of which were not disclosed.
Founded in 2008, DoApp became a pioneer in mobile application development. The Company provides a mobile content and application automation platform for media companies, news publishers, radio and television broadcasters, and content creators. DoApp’s mobile software-as-a-service (SaaS) platform enables its media partners to publish pre-configured branded apps and mobile-enabled web sites, manage content feeds, send push notifications and manage hyperlocal advertisements. The Company has developed more than 1,500 mobile apps and has over 500 customers using its platform.
Wade Beavers, CEO of DoApp, commented, “Having used Capstone for two successful company exits has given me an appreciation for how good they really are in taking you through the process. They got to know my business better than I knew it and actually helped me formulate a go-forward plan in growing the business. This was far more service than I'd gotten from other M&A representatives we'd had in the past. These guys worked tirelessly to locate the right potential suitor and they didn't stop until they made it happen. The gratitude I have for what they did to get us where we are today is immeasurable."
David Michaels, Managing Director at Capstone, commented, “It was a true privilege to work with DoApp’s founders Wade Beavers and Joe Srivers who anchor one of the best mobile teams in the industry. The mobile platform they have built and the growth they have achieved is remarkable, particularly given they did it without outside capital. The strategic fit with NEWSCYCLE is very compelling and we expect that DoApp’s growth will accelerate as a result of the acquisition.”
NEWSCYCLE develops and delivers software technology that enables the global news media industry to thrive in a rapidly transforming market. The Company is a trusted partner that serves more than 750 media enterprises, including 1,200 companies with 8,000 properties across 45 countries on six continents. This acquisition will expand NEWSCYCLE’s mobile offerings for digital publishing, advertising and audience management, bolstering its newly formed mobile product pillar. “The DoApp acquisition allows NEWSCYCLE to extend our efforts in helping media companies embrace mobile-first workflows and build new mobile revenue streams,” said Preston McKenzie, CEO of NEWSCYCLE Solutions. “By adding DoApp’s mobile development expertise, technology platform and ad network to the NEWSCYCLE portfolio, we further expand our ability to introduce new value-added mobile solutions to our combined client base.”