Snipp Interactive closes acquisition of Swiss Post

2015-02-05 08:35 ET - News Release

Mr. Atul Sabharwal reports

SNIPP INTERACTIVE INC. COMPLETES ACQUISITION OF SWISS POST SOLUTIONS' CUSTOMER LOYALTY MANAGEMENT SUBSIDIARY

Snipp Interactive Inc. has completed the acquisition of Swiss Post Solutions Ireland Ltd. and acquired all of the issued and outstanding shares of Swiss Post Ireland, as per the share purchase agreement with Post CH Ltd. dated Jan. 2, 2015, and previously announced on Jan. 5, 2015.

The acquisition is expected to contribute upward of $1.5-million in revenue for fiscal 2015 and generate positive net income. The parties have agreed not to disclose the acquisition price publicly.

Swiss Post Solutions, a subsidiary of Swiss Post, manages paper-based business processes with document processing solutions for its business customers and provides support for the transition from the physical to the digital world. With approximately 6,400 full-time employees, Swiss Post Solutions operates internationally in all major economic regions. Swiss Post Ireland is SPS's customer loyalty management business unit based in Ireland, Europe.

Swiss Post Ireland's Catalyst CLM platform is a multicurrency, multilingual, cloud-based platform that offers real-time benefits and rewards management, including an advanced analytics platform for both reporting and predicting consumer behaviour, which has sophisticated capabilities for integrating into enterprise customer database and billing systems.

Current customers of Swiss Post Ireland's Catalyst CLM solution include a leading fashion retailer, a major shoe retailer and a chain of petrol station forecourt stores. The platform has been successfully implemented across hundreds of stores and in over 10 languages.

The acquisition adds an enterprise-class loyalty management platform to Snipp's expanding shopper marketing, receipt processing and rebate solutions portfolio. In addition to expanding its portfolio, the acquisition gives Snipp an immediate presence in Europe and a talented development team based in Ireland to complement its existing development teams in India and the United States. Snipp will quickly integrate its receipt and image validation capabilities to further enhance the value of the platform.

According to Atul Sabharwal, chief executive officer of Snipp: "We are very pleased to have successfully closed our first acquisition. This acquisition is the perfect strategic fit because it gives us a very strong enterprise-class offering in the loyalty market and simultaneously expands our geographic footprint. Not only can we bring the technology to our existing clients, but this also gives us a new proposition in the retail and retail-related markets, which have not been a focus to date.

"There is a big opportunity for us to expand into brand-based loyalty programs, in addition to the retailer loyalty programs already under way with the Catalyst CLM platform. Traditionally consumer brands have struggled with loyalty programs, as they required cumbersome point-of-sale integrations or expensive code-on-pack printing. With this acquisition Snipp can pioneer a new generation of loyalty programs for brands that marry the convenience and flexibility of our SnippCheck receipt processing solution with the enterprise-level robustness and richness of our new CLM platform. We also hope to continue to closely collaborate with SwissPost on a variety of projects in the future," added Mr. Sabharwal.

Full article at Stockwatch.

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Cheers,
Dave.