Phunware is an enterprise mobile application infrastructure company that has acquired TapIt Media Group. Phunware acquired TapIt for a total of $23 million. The acquisition was closed officially on December 28th. The transaction was already agreed upon by the board of directors at both companies. Phunware will assume all of TapIt’s facilities and employees in Irvine, California and Rockville, Maryland once the deal closes.
Tapit Media is a near field communications company that has raised $2.3 million in Series A funding led by MPC Ventures, which is a subsidiary of Monash Private Capital Limited in Sydney, Australia. Other investors that participated in this round include IT entrepreneurs David Shein, David Thrum, and Jon Medved’s ourcrowd.com. Tapit has built an enterprise NFC ecosystem to make the way that people get content and information easier when they are on the go.