HAMILTON, Ontario, Feb. 28, 2020 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty marketing, gift card and payments technology and services provider, and Resulto Développement Web Inc. (“Resulto”), an arms-length digital solution company providing web, inventory and loyalty marketing solutions, are pleased to announce that the two companies have signed a definitive agreement for the Company to acquire all of the assets relating to WinWin Marketing, Resulto’s hospitality and retail gift card and loyalty business. Under the terms of the agreement, Ackroo has acquired the WinWin Marketing software platform and all related customer contracts in order to assist Ackroo’s growth strategies via hospitality and retail.
In consideration for the acquisition, the Company has paid a one-time cash payment of $114,355.
“The addition of WinWin Marketing’s product and client portfolio further supports Ackroo’s ongoing strategy of simplifying and consolidating the loyalty marketing and payments landscape,” commented Steve Levely, CEO of Ackroo. “While we have plans to consolidate more complimentary businesses in the years ahead, we also plan to continue to acquire more direct competitors like WinWin Marketing. The acquisition adds more Quebec based hospitality and retail merchant clients within brands like Baton Rouge, Dejeuner Egg Style and Chaussures Fillion, adds integrations to various POS solutions like Lightspeed POS, Acomba and Shopify, and will add over $75,000 a year of revenue, and growing, in the process. For Resulto they will divest of these assets in order to focus on their core automotive and powersport business. A win for Resulto and for Ackroo.”
Martin Paquette, CEO of Resulto stated: “This transaction will allow our entire team to focus on optimizing our marketing solutions for dealers and manufacturers in the motor vehicle industries. I enjoyed collaborating with the Ackroo executive team to reach a satisfying agreement for both companies. We look forward to work with Ackroo to ensure the best possible transition for their new customers.”
About Resulto
Founded in 2014, Resulto specializes in integrated marketing solutions for the web, advertising, loyalty and customer experience in the powersports, automotive, recreational vehicle, agriculture, trailer, and trucking industries. Resulto’s headquarters are in Montreal, Canada and the company currently operates in the United States and Canada. For more information, visit www.resulto.ca.
About Ackroo
Ackroo provides merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process loyalty, gift card and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their loyalty and gift card accounts. Ackroo also provides important marketing and payment services to assist their merchants with utilizing Ackroo’s technology solution and to provide a single point of contact for all of their primary merchant currencies. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit: www.ackroo.com.
For information, please contact:
| Steve Levely Chief Executive Officer | Ackroo Tel: 416.360.5619 x 730 Email: slevely@ackroo.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.