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Snipp Interactive (TSXV:SPN) announced that it has acquired substantially all of the assets of Ziploop for C$654,175. Snipp, a global provider of digital marketing promotions, rebates and loyalty solutions said that the company has paid the price of acquisition by the issuance of 10,510,562 common shares at a price of C$0.062 per share. As quoted in …
Snipp Interactive (TSXV:SPN) announced that it has acquired substantially all of the assets of Ziploop for C$654,175.
Snipp, a global provider of digital marketing promotions, rebates and loyalty solutions said that the company has paid the price of acquisition by the issuance of 10,510,562 common shares at a price of C$0.062 per share.
As quoted in the press release:
The acquired intellectual property provides an intelligent learning platform that when added to Snipp’s existing receipt processing platform, will result in a smarter, faster and more robust technology suite.
By combining the two platforms, Snipp will increase its lead as the #1 receipt capture provider in the loyalty space, improving its ability to roll out larger format loyalty programs that feature a greater variety of programs. The intelligent learning components of the Acquisition are particularly important, because this new technology will increase Snipp’s capabilities in analyzing user purchasing behavior, accelerating the Company’s ability to monetize this data and improve the effectiveness of client programs. Snipp’s growing list of Fortune 500 customers and brands have shown strong interest in gaining access to the Company’s massive and ever-growing database, which tracks not only client product purchases, but also additional items on each captured receipt. This snapshot contains valuable consumer data not available from any other source.
The Shares will be subject to a six-month hold period. The acquisition is cost neutral for the Company and on the revenue side Snipp will inherit all of Ziploop’s existing contracts, along with the potential to re-engage prior Ziploop clients. The assets acquired by Snipp for example will also enable the Company as part of its foray into new markets, to launch programs for manufacturers, retailers and dispensaries to acquire and retain key influencers who are becoming the bedrock of how new products are discovered and sampled by younger generations of shoppers. This is a ground breaking solution especially in industries where marketing and advertising services are severely restricted by law, for example in the Alcohol, Pharmaceutical and Cannabis industries or in industries like Beauty & Electronics where recommendations and research play a key role in the path to purchase.
“We are excited by this acquisition, primarily because we are gaining a brilliant platform built with state of the art technology. Snipp will not be adding any material costs in terms of infrastructure or its headcount, so this acquisition will be cost neutral for us” said Atul Sabharwal, CEO of Snipp. “This is one of those rare opportunities, where technology became available that can open new doors, while also enhancing our ability to better service our existing customer base. In particular, we are excited by the influencer marketing and machine learning capabilities of the platform, giving us next generation capabilities and increasing our lead as the top provider in our space. As we incorporate these new features into our product mix, we anticipate a very positive reaction from our existing clients and look forward to growing the new relationships that this Acquisition will bring.”
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