Perk.com Announces Proposed Acquisition of Mobile App Development Platform Corona Labs

Perk.com (CVE:MVI.P) has announced its intention to acquire Corona laps, a leading mobile app development platform. The transaction is expected to be completed in the first half of December.
According to the press release:

Based in Palo Alto, California, Corona Labs is an industry leading mobile software company. Corona Labs’ marquee product, is the award-winning Corona SDK which allows developers to create cross-platform applications, games and eBooks for iOS{A ™}, Android{A ™}, Kindle Firetrademark, and NOOK{A ™}. Boasting a community of over 300,000 developers worldwide, apps created with Corona have been downloaded more than 60 million times within the last year alone and reach over 4 million users daily.
Ted Hastings, CEO of Perk, stated: “Our vision for Perk was to prove that a rewards platform could drive retention, engagement, monetization and advertiser ROI. We started with the goal of establishing a large audience across our owned and operated mobile and web properties and have seen the results of our efforts in our growing user base, expanding advertising inventory and solid financial performance over the last year. After proving the model across our owned and operated properties, the next step in our journey was to launch our Perk Platform to the millions of apps and websites that are looking for improvements in the key metrics our rewards engine powers. We saw initial success with our 25 launch customers and then searched for a strategic path to accelerate the adoption of our rewards model that culminated with the acquisition of SuperRewards and now Corona’s mobile app development platform. Over 300,000 mobile app developers have selected the Corona development platform, creating apps that have over 60 million downloads and generate over a billion sessions per month. We can now integrate our rewards model and monetization solution into the Corona platform to make it part of the infrastructure from day one of a new app launch”.
Walter Luh, Founder and Creator of Corona, commented: “We built Corona with a vision to be the market leading cross platform mobile development platform. Combining with Perk brings new investment for the platform from an organization that started as mobile app developers and had first hand experience with the power of the Corona platform in building its own apps. We will be able to further our vision and provide our developers with an out of the box monetization solution and rewards program. Our team is excited about the partnership and believes the shared interest of the two companies will quicken the process of us reaching our long term goals.”

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