Spindle Enters into Purchase Agreement for CoverCake
Disruptive Digital Automation Software Solution to Complement Company's CATALYST Platform Functionality through Intelligent Algorithms for Content Aggregation and Social Media Data Mining
SCOTTSDALE, AZ -- (Marketwired) -- 04/19/17 -- Spindle, Inc. (OTCQB: SPDL) ("Spindle" or the "Company"), an emerging provider of commerce solutions, today announced that it has finalized an agreement to acquire specific digital marketing software assets from CoverCake, Inc., specifically, CoverCake's intelligent algorithms for data mining and consumer engagement. CoverCake's software is expected to enhance both the sophistication and proprietary strengths of Spindle's CATALYST Platform.
CoverCake's software capabilities include intelligent content aggregation; data mining on various social media data feed platforms, and a robust Content Management System (CMS) backend that will be a significant enhancement to the CATALYST CRM. CoverCake has been utilized in the past by enterprise level merchants as well as television and radio broadcast organizations.
Brian Sathianathan, President of CoverCake, stated, "Combining the strengths of the CoverCake artificial intelligence and backend solutions will dramatically enhance both data procuration and refinement for the CATALYST CRM. I view this as a very positive and tangible step towards the mutual creation of a powerful digital commerce engine that should empower enhanced marketing tools for both CATALYST's internal programs and their merchants alike."
Spindle Executive Vice President Antone Biondo, stated, "The acquisition of CoverCake is highly synergistic and is representative of further diversification in functionality for our CATALYST Commerce Solutions. With this strategic acquisition of CoverCake, we can now deliver a robust integrated marketing and payments engine, while enhancing our digital media capabilities."
Biondo concluded, "As I have stated previously, digital media expertise will come to be recognized as one of our core strengths. The addition of CoverCake's software to our CATALYST Commerce Solutions bring us another step closer to our strategic vision of orchestrated commerce. Through the seamless enhancement of consumer and merchant engagement, we anticipate driving increased transactional growth. Our CATALYST Commerce Solutions have evolved through our focus on key partnerships and innovation. With additional integrated MAR-TECH & AD-TECH components we continue to enhance our ability to deliver more unique, streamlined, commerce experiences."
Spindle is an innovator of merchant and consumer-facing commerce solutions focused on the Small and Medium-sized Business (SMB) market. The CATALYST Marketing System components and CATALYST IP were included in the asset acquisition from Catalyst Business Development, Inc. which Spindle, Inc. completed in 2015. It is focused on payment processing services and integrating value-added capabilities that enhance merchant revenue and increase consumer loyalty, experience, and stickiness. Spindle is taking a unique approach to orchestrating commerce transactions of all types by leveraging best-in-class technology, multiple solutions for vertical markets, and a deeply experienced payments management team to define and drive the way commerce transactions will be performed in the future. This commerce experience will be independent of mechanism, unifying a consumer's experience across all platforms (mobile, browser, kiosk, etc.), taking today's solutions to a new level via technology integrations and strategic partnerships. 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.
Executive Vice President
Source: Spindle, Inc.
Released April 19, 2017