Full-service mobile marketing firm IMImobile has bought messaging specialist Textlocal for an initial £11m, including £10m in cash and £1m via a share issue. It will also pay up to an additional £2.15m over the next two years.

IMImobile employs 650 people and serves clients in more than 60 countries. Textlocal’s core business is a self-service mobile messaging solution called Messenger, which enables businesses to build opted-in customer and prospect databases and then target them with text messages, often to drive footfall into shops, restaurants and other retail premises, though it works with clients in many other sectors, including Charity and Entertainment. Textlocal’s customer base numbers over 120,000 companies. IMImobile will integrate the Messenger solution with its own offering over the next six months.

“Our successful nine year history and respected reputation in the market place has brought about this opportunity to begin the next chapter of the Textlocal story,” said Textlocal managing director, Jason Palgrave-Jones. “Our award-winning Messenger platform has been recognised as being the best in class by IMImobile and is now set to become a vital addition to their mobile engagement product.”