Fobi AI Inc. announced that it has entered into an asset purchase agreement (the “APA”) to acquire certain specific assets and liabilities from Qples Inc. to be effected together with a wholly owned subsidiary of the company for total consideration of approximately US$3.2 million, plus up to an additional USD 1 million earn out. 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 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.