Wishpond announces the acquisition of Winback

0
  • The acquisition of WinBack provides Wishpond with an intuitive and user-friendly automated SMS marketing product and cart abandonment tool for Shopify merchants that can be sold to existing Wishpond e-commerce customers and create a more eye-catching offer.

  • Winback is Wishpond’s fourth acquisition this year and is expected to be an immediately profitable acquisition for the company, generating recurring revenue with healthy gross margins and positive cash flow.

VANCOUVER, BC, December 13, 2021 / PRNewswire / – Wishpond Technologies Ltd. (TSXV: WISH), (OTCQX: WPNDF) (the “Society” Where “Wish“), a provider of online business solutions focused on marketing, is pleased to announce that it has entered into an Asset Purchase Agreement (the”APA“) under which a wholly owned subsidiary of the Company will acquire (the”Acquisition“) certain specific assets and liabilities relating to Winback.chat (“To win back“) product of AtlasMind Inc. (“AtlasMind“) for full consideration of US $ 700,000 paid entirely from cash on hand. Based on New York, Winback is an SMS marketing solutions platform that includes a cart abandonment tool for use with Shopify.

Wishpond (TSXV: WISH, OTCQX: WPNDF) (CNW Group / Wishpond Technologies Ltd.)

“We are very pleased to announce our fourth acquisition this year,” said Ali Tajskandar, President and CEO of Wishpond. “The synergistic attributes of this integrated acquisition are evident and can be leveraged immediately with Wishpond’s existing customer base to drive sales and customer retention. The ability to sell and add this product to existing Wishpond packages will create a higher added value product for our customers, resulting in higher MRR (Recurring Monthly Income) and increased retention and long-term value. “

Winback offers an SMS platform for small and medium businesses with a focus on providing cart abandonment solutions. Winback is currently a Shopify-exclusive application whose product is one-click install. Winback’s technology is triggered when a buyer browses but does not add anything to their cart. Winback customers can get 35 times ROI. The product is extremely intuitive and user-friendly, which makes it ideally suited for Wishpond’s target customer base.

WinBack is a healthy company with growing recurring revenues, generating strong EBITDA margins of over 20% and positive cash flow. Winback’s current revenue execution rate has ended US $ 450,000, from a diverse customer base of over 350 monthly paying customers, most of whom are based in the United States. WinBack will continue to maintain its own brand and maintain existing customer relationships, while Wishpond will provide operational support. WinBack offerings are expected to enhance Wishpond’s current product offerings and increase customer lifetime value

Wishpond has previously acquired certain other specific assets and liabilities from AtlasMind related to its Brax.io business. Please refer to the Company’s press release dated September 1, 2021 relating to it for more information.

The Acquisition should be finalized early January 2022 and is subject to the approval of the TSX Venture Exchange.

Grant of stock options

Wishpond also informs that the board of directors of the company has authorized, in accordance with its stock option plan, the grant of incentive stock options (“Options“) certain employees and an officer to purchase a total of up to 310,000 common shares in the capital of the Company at an exercise price of $ 10.26 per share. The options can be exercised for a period of 10 years from December 10, 2021.

WISHPOND TECHNOLOGIES LTD.
By: “Ali Tajskandar”
Ali Tajskandar, Chairman and CEO

About Wishpond Technologies Ltd.

Based on Vancouver, British Columbia, Wishpond is an online business solutions provider focused on marketing. Wishpond’s vision is to become the premier provider of digital marketing solutions that empower entrepreneurs to be successful online. The Company offers an “all-in-one” marketing suite that provides businesses with marketing, promotion, lead generation and sales conversion capabilities from an integrated platform. Wishpond replaces all marketing functions in one easy-to-use product, at a fraction of the cost. Wishpond serves over 3,000 customers who are primarily small and medium-sized businesses (SMBs) in a wide variety of industries. The company has developed cutting-edge marketing technology solutions and continues to add new features and applications with great rapidity. The company uses a Software as a Service (SaaS) business model in which almost all of the company’s revenue is recurring subscription-based revenue, which provides excellent revenue predictability and cash flow visibility. . Wishpond is listed on the TSX Venture Exchange under the symbol “WISH” and on the OTCQX Best Market under the symbol “WPNDF”. For more information visit: www.wishpond.com.

Disclaimer

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The securities referred to in this document have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in United States or to a United States person without a registration or applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

Notice Regarding Forward-Looking Statements

Certain statements contained in this press release concerning the Company are forward-looking statements and are forward-looking in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections regarding future events and are therefore subject to risks and uncertainties that could cause actual results to differ materially from future results. expressed or implied by forward-looking statements. . These statements can generally be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “s’ expect, “” believe, “or” continue, “or the negative thereof or similar variations. Forward-looking statements contained in this press release include statements regarding the closing of transactions contemplated in the APA, that: the total purchase price should be approximately US $ 700,000; Wishpond’s intention to pursue a strategy of inorganic growth through integrated acquisitions of innovative and complementary technology companies, as well as statements regarding anticipated financial results. There are numerous risks and uncertainties that could cause Wishpond’s actual results and plans and objectives to differ materially from those expressed in forward-looking information, including: (i) risks related to COVID-19; (ii) the difficulties and delays associated with the integration and growth of the Winback activity; (iii) other factors beyond the control of the Company; (iv) the results of due diligence investigations carried out in connection with the transactions contemplated by the APA; and (v) the risks described in Wishpond’s public documents available on SEDAR. Actual results and future events could differ materially from those anticipated in this information. This subsequent written and oral forward-looking information and all subsequent forward-looking information are based on management’s estimates and opinions on the dates on which they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

Non-GAAP financial measures

In this press release, the term “EBITDA” (the “Non-GAAP financial measure“), which is a financial measure that is not defined by International Financial Reporting Standards (“IFRS“) is used by Wishpond to assess the performance of Winback and its business. Non-GAAP financial measure may also be used by financial institutions and rating agencies to assess Winback’s performance and its ability to provide service The non-GAAP financial measure does not have a standardized meaning prescribed by generally accepted accounting principles (“GAAP“) and is therefore unlikely to be comparable to similar measures presented by other companies. The objective of the non-GAAP financial measure is to provide additional information useful to the company; however, the measure does not has no standardized meaning under IFRS, so this measure should not be viewed in isolation or used as a substitute for performance measures prepared in accordance with IFRS. Other issuers may calculate the non-GAAP financial measure differently.

The Company defines “EBITDA” as earnings before interest, taxes, depreciation and amortization excluding items such as other non-operating income or expenses, financial income or expenses, hedging transactions, exploration expenses, asset depreciation and exchange rate differences. EBITDA should not be interpreted as an alternative to operating profit but reconciled with net profit as determined in accordance with IFRS. The Entities believe that EBITDA is a meaningful indicator of operating profit, expressed as a percentage of revenue, and provides a measure of consistency over time and is an indicator that management uses internally to measure performance .

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cision

Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/wishpond-announces-acquisition-of-winback–a-provider-of-automated-sms-marketing-solutions-for-ecommerce-301442659.html

SOURCE Wishpond Technologies Ltd.


Source link

Share.

Comments are closed.