Despite earlier rumors, it seems that Third Screen Media would prefer cash to an acquisition:
Privately held Third Screen Media is looking for additional funding to expand its mobile advertising business rather than trying to sell the company, its top executive said on Wednesday.
The comments follow a recent Wall Street Journal report that Microsoft Corp. (MSFT.O: Quote, Profile, Research) was in talks to buy Third Screen to gain access to its technology and relationships with Third Screen’s clients, which include USA Today and Weather Channel.
But Third Screen’s Chief Executive Thomas Burgess said the two year old company, which has received about $8 million in funding to date and is looking for more, would focus on growing the company organically rather than looking for a sale.
“Right now we’re not going to sell the company. We’re a leading company going forward on our own.” he said. “In two, five or 10 years who knows … I don’t want to say there’s never been any conversations, but right now it’s not our plan.”
Amazing! More about the company by following the link.