Ackroo adds technology and expands merchant
footprint with acquisition
OTTAWA, March 15, 2016 /CNW/ - Ackroo Inc. (TSXV:
AKR); (OTC: AKRFF) (the "Company"), a gift card, loyalty and
rewards technology and services provider, and D1 Mobile, a leading
digital agency specializing in innovative mobile experiences that
connect brands with their customer, are pleased to announce that
the two companies have reached an agreement for Ackroo to acquire
the assets of D1 Mobile which pertain to mobile payment and
loyalty. Under the terms of the acquisition, Ackroo will
acquire (i) D1 Mobile's Appetite® Mobile Pay and Loyalty platform
and (ii) D1 Mobile's customer base of 281 locations. In
consideration for these assets, Ackroo will issue 500,000 common
shares and will pay a performance-based cash bonus to D1 Mobile
during the first 24 months following the acquisition.
"The acquisition of D1 Mobile's Appetite® platform and customer
base is an exciting advancement for Ackroo," commented Steve Levely, Chief Executive Officer of Ackroo.
"As the Company continues to pursue consolidation in a crowded gift
card and rewards landscape, opportunities to acquire businesses or
assets like the D1 Mobile Appetite® platform and their merchants,
helps position Ackroo for even greater success and scale.
Strategically, the Company plans to further develop the mobile
aspect of its offering as the demand for our products to evolve in
this direction grows daily. Daniel and the team at D1 Mobile have
done an amazing job developing their technology and growing a
customer base that we strongly believe will facilitate Ackroo's
next phase of growth. We look forward to working with the D1 Mobile
team and the great brands they have supported. "
Daniel Ezer, President &
Founder of D1 Mobile stated "We are excited about the opportunity
to combine our Appetite® platform with Ackroo's existing
infrastructure. We are confident that our existing client base will
gain tremendous value from the breadth of additional services that
Ackroo offers. Likewise Ackroo's current customer base will benefit
from the new mobile infrastructure that Appetite® brings. We are
excited to join Ackroo's very competent management team and believe
the acquisition will prove to be a win for all parties
involved."
The acquisition, and the share issuance contemplated therein,
remain subject to the final approval of the TSX Venture Exchange.
All shares issued in connection with the acquisition will be
subject to a statutory hold period expiring four months and one day
after issuance.
About Ackroo
Ackroo provides gift card and loyalty solutions into the
$160 billion North American gift card
and loyalty market. Their solutions enable businesses, merchants
and business networks to increase profitability and build long-term
customer relationships through customized gift card and loyalty
programs. Ackroo's web-based solutions provide the power of a
massively scalable software platform in a lightweight online tool
that works with existing point-of-sale equipment, making it
easy and affordable for businesses to launch gift card &
loyalty programs that deliver immediate return on investment.
Ackroo is headquartered in Ottawa,
Canada. For more information, visit: www.ackroo.com.
About D1 Mobile
Established in 2011, D1 Mobile has been providing strategic
advisory services and implementing digital solutions which connect
brands with their customers. In 2012, D1 Mobile incubated and
launched its proprietary mobile payment, rewards and engagement
platform, Appetite®. The Appetite® platform empowered
franchisors and retail chains with in-store mobile payment and
loyalty solutions, and instantaneous engagement and data
aggregation tools. For more information, visit www.d1mobile.com or
www.appetiteapp.com.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this press release. Neither TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward Looking Statements
This release contains
forecasts and forward-looking statements that are not guarantees of
future performance and activities and are subject to risks and
uncertainties. The company has based these forward-looking
statements on assumptions and assessments made by its management in
light of their experience and their perception of historical
trends, current conditions, expected future developments and other
factors they believe to be appropriate. Important factors that
could cause actual results, developments and business decisions to
differ materially from those anticipated in these forward-looking
statements include, but are not limited to: the company's ability
to raise enough capital to support the company's go forward plans;
the overall global economic environment; the impact of competition
and new technologies; general market, political and economic
conditions in the countries in which the company operates;
projected capital expenditures and liquidity; changes in the
company's strategy; government regulations and approvals; changes
in customers' budgeting priorities; plus other factors that may
arise. Any forward-looking statements in this press release are
made as of the date hereof, and the company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
SOURCE Ackroo Inc.
