I disagree. Pownce the app did fail. I'm not seeing anyone online calling this an "acquisition". Even on the Pownce blog, Leah says "We will be closing the service and Mike and I, along with the Pownce technology, have joined Six Apart".

Yes, maybe they got a small chunk for the IP, and maybe they will start something else down the road ... but Pownce failed and they have to work for someone else now.