Spindle Announces Agreement to Acquire Yowza!!
Deal Is Anticipated to Boost Spindle's Reach to Nearly 2 Million Consumers and 95,000 Merchant Locations
SCOTTSDALE, AZ -- (Marketwired) -- 12/11/13 -- Spindle, Inc., (OTCQB: SPDL) ("Spindle"), a leading provider of mobile commerce solutions, announced that it has entered into a definitive agreement to acquire the assets of Yowza!! (Yowza International, Inc.), a Los Angeles-based provider of mobile marketing services for consumers and merchants. Upon the completion of the acquisition, Spindle will increase its reach to nearly 2 million, and will expand its roster of participating merchants to some 95,000 locations.
"The acquisition of Yowza!! marks a milestone in Spindle's young history, and give us an extraordinary talent pool and proven technology that we believe will dovetail extremely well with our own market-proven solutions," explained Bill Clark, Spindle's chief executive officer. "Most importantly, we believe the completion of this transaction positions Spindle as one of the largest providers in the new mobile economy by giving us a platform to reach to the tens of millions of consumers and businesses that are now embracing the convenience and flexibility of buying and selling goods and services through smartphones and tablets. We believe that the acquisition will be beneficial for both our subscribing merchants and consumers, as well as our shareholders, as we deliver payment services and consumer engagement marketing programs that integrate Yowza!!'s offers platform."
Yowza!! is a next-generation mobile marketing solution that delivers free real-time coupons and offers to consumers through their iOS and Android devices. Merchants can easily sign up for Yowza!! online, and use the service as a low-cost, secure and reliable portal to build one-on-one relationships by sending valid offers to existing and potential customers.
Upon completion of the transaction, Spindle expects to integrate Yowza!!'s services with its MeNetwork platform, which allows merchants to facilitate payment processing and manage customized marketing campaigns in a single interface. The platform enables a number of features, including loyalty programs, electronic coupons, rebates and instant offers. In addition, MeNetwork's consumer-facing iOS and Android app allows consumers to locate merchants, discover offers, accrue loyalty points and make purchases right from their mobile devices.
"Spindle's acquisition of Yowza!! is a perfect example of the company's distinct ability to execute in a very nascent market," said Vikrant Gandhi, principal analyst for Frost & Sullivan, a global market research firm. "Spindle's tightly-woven mobile marketing and payments application is already a very compelling solution for the marketplace. The addition of Yowza!!'s couponing technology will strengthen its position, and give it increased access to many more merchants and consumers."
About Spindle, Inc.
Spindle is an innovator of mobile commerce solutions for financial services providers and consumer-facing merchants of all sizes. Spindle is focused on pioneering new ways for businesses to rapidly integrate mobile payments acceptance and mobile marketing services while empowering location-based merchant discovery, fulfillment and frictionless mobile payments for consumers. Spindle is dedicated to expanding beyond traditional electronic payment boundaries by offering cutting-edge solutions that allow clients, partners, merchants and consumers to take full advantage of the rapidly emerging mobile economy. Spindle has an extensive proprietary intellectual property portfolio -- which include patents pending -- that encompass networks, mobile payments, and security. For more information, visit www.spindle.com.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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Source: Spindle Inc.
Released December 11, 2013