The Company has managed to streamline operations from a vendor management, client pricing, support and employee standpoint resulting in operational efficiencies and profitability. Ackroo is also building product parity between the Simpliconnect platform and their Ackroo Anywhere platform and has already begun migrating clients over to Ackroo’s core marketing product. This work, both product parity and migration, is expected to be completed by the end of
The Company has also achieved financial gain from the acquisition in its first year of contribution, delivering
From a return on invested capital standpoint, the final consideration from Ackroo was just under
“We are very happy with the continued progress we have made integrating and optimizing the Simpliconnect business,” said
The Company cautions that figures for revenue have not been audited and are based upon calculations prepared by management. Actual results may differ from those reported in this release once these figures have been audited. The Company expects to complete its 2023 audit in April to confirm revenue figures, along with other financial results.
About Ackroo
As an industry consolidator, Ackroo acquires, integrates and manages gift card, loyalty marketing, payment and point-of-sale solutions used by merchants of all sizes. Ackroo’s self-serve, data driven, cloud-based marketing platform helps merchants in-store and online process and manage loyalty, gift card and promotional transactions at the point of sale. Ackroo’s acquisition of payment ISO’s affords Ackroo the ability to resell payment processing solutions to their growing merchant base through some of the world’s largest payment technology and service providers. As a third revenue stream, Ackroo has acquired certain custom software products including hybrid management and point-of-sale solutions that help manage and optimize the general operations for niche industry’s including automotive dealers and more. All solutions are focused on helping to consolidate, simplify and improve the merchant marketing, payments and point-of sale ecosystem for their clients. Ackroo is headquartered in
For further information, please contact:
Chief Executive Officer | Ackroo Tel: 416-360-5619 x730 Email: slevely@ackroo.com |
The
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.
Source:
2024 GlobeNewswire, Inc., source