Qples Provides End-to-End Solution To Capitalize on
Qples is a key player in the Coupon Industry with relationships to the world’s leading Consumer Packaged Good (“CPG”) brands and full support of the new AI (8112) Digital Standard for coupons, which will immediately be integrated into both Fobi’s Connected Retail Commerce Solution (“FCRS”) and Fobi Data Exchange (“FDX”) announced earlier this month.
Qples is a cash flow positive business that is expected to generate approximately
The acquisition of Qples is an important step in Fobi’s strategy to connect CPG brands and retailers, as well as, become leaders in key retail verticals such as Grocery and Convenience.
Fobi CEO,
Qples is a next generation provider of digital coupons and the first coupon provider to sign on to The Coupon Bureau’s universal digital coupon AI 8112 project. Qples recently announced the launch of the Grocery Coupon Network mobile application, the first IOS and Android app to allow consumers to discover, save and redeem both print@home and universal digital coupons in one place.
As a result, for the first time, global CPG brands are able to deliver manufacturer-level digital coupons into any digital platform and track the performance via detailed data and analytics. Through its proprietary coupon delivery platform, Qples provides a disruptive and cost-effective way for brands and businesses to accurately market to consumers across social, local, and mobile channels.
With this acquisition, Fobi is taking its technology stack to the next level by both incorporating the Qples team and taking full control of its coupon platform in anticipation of Fobi’s next stage of significantly larger business developments from Fobi’s FCRS announced earlier this month. Specifically, significant interest from the Grocery space dictates that Fobi secures and directly manages the further development of Qples’ coupon platform.
Qples President,
RICHARD LEE DELIVERS FIRST ACQUISITION WITH QPLES AND ANTICIPATES FURTHER STRATEGIC M&A ACTIVITY
On
With his deep knowledge of the market research and data & analytics industry, Richard will continue to work with Senior Management and focus on further M&A opportunities. His background at NielsenIQ is key for executing on Fobi’s Retail strategy focused on Grocery, Convenience and Pharmacy, all of which represent legacy industries with hundreds of billions of CPG dollars flowing into them in search of better and faster ways to engage retail customers. Qples gives Fobi the activation capabilities to immediately go after these verticals at scale.
Fobi SVP of Corporate Strategy & Corporate Development
"The acquisition of Qples brings additional capabilities that interface with our current suite of services and strengthens our position to help connect the CPG and retail industry. This purchase is in line with Fobi's corporate strategy of acquiring companies that provide complementary services and a scalable business model, and we plan to expand Qples' services to new markets immediately”.
In 2020, according to TCB, there were over 1.3 billion coupons redeemed with CPG brands having spent more than
TERMS OF THE TRANSACTION
In consideration for the Acquisition of certain assets and certain specified liabilities of Qples, Fobi expects the aggregate purchase price to be approximately
Qples also has the opportunity to earn up to a
This Press Release Is Available on the Fobi Website and the FOBI Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement.
About Qples
Qples is a next generation provider of digital coupons and the first-ever coupon platform that natively integrates with Facebook, while still functioning in other mediums or channels: website, blog, banner ads, QR codes, Twitter and more. For the first time, brands are able to deliver manufacturer-level digital coupons, including unprecedented fraud prevention features, into any digital platform and track the performance via detailed data and analytics.
Through our proprietary coupon delivery platform, Qples provides brands with data about the offers and the consumers such as name, gender, location, point of origin and much more. Qples provides a disruptive and cost-effective way for brands and businesses to accurately market to consumers across social, local and mobile channels. Qples recently announced the launch of the Grocery Coupon Network mobile application, the first IOS and Android app to allow consumers to discover, save and redeem both print@home and universal digital coupons in one place. Additionally with the ability to bundle all digital coupons into one master barcode, lane time is preserved, and consumers can take advantage of a truly contact-less redemption of coupons.
About Fobi
Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.
Fobi Website: www.fobi.ai | ||
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This news release contains certain statements which constitute forward-looking statements or information, including statements regarding the following: the future of coupons being digital; the anticipated 2021 and 2022 revenues of Qples; the anticipated closing of the Acquisition; the approval of the Acquisition by the Exchange; and the payment of the Earn-Out; the integration by FOBI of the assets and business acquired; and the anticipated impacts and effects of the Acquisition. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic and capital markets conditions, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.
Neither the
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