GetGlue Acquired by Competitor for $25 Million Plus Stock

In an unexpected move, Viggle Inc., a 2-year-old company that describes itself as a "popular television loyalty service," has acquired social TV check-in app GetGlue for a mix of cash and stock, both companies announced Monday morning.

Viggle is paying $25 million in cash and 48.3 million shares of stock for the startup, placing the value of the transaction at approximately $96.7 million. GetGlue will retain its name and brand identity, and GetGlue CEO Alex Iskold will assume a "senior executive position" and board of directors role at Viggle, a public statement issued by both companies suggested. All 34 GetGlue employees will join Viggle.

The acquisition comes as something of…
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