Fobi's leading role in the Wallet industry Over the last couple of year's Fobi has been adding companies and capabilities to its Wallet infractructure. this has given fobi a leading role within this industry. Fobi's is years ahead of many other players. As per last PR related to the APA for Walllet-com, Fobi has completed 5 deals in the Wallet pass sphere giving it a leading technology position as well as a large number of Tier-1 clients.
These acquisitions has been done at a relative low price and mainly using shares of the company. The following is a summary of some of these transactions from the related PRs: Passcreator (2021):
- Price - 2 million USD. Payment included 1,301,425 shares @ 1.14 USD and 123k USD in cash
- Tier-1 clients: Mercedes-Benz and BMW
- Passcreator was started as a SaaS tool with the launch of Wallet apps back in 2012 and became one of the leaders in mobile marketing technology with customers of all sizes around the globe
PassWallet (2021):
- Price - 888,000 EU (1.2 million CAD). Payment included (i) €355,200 paid in cash; (ii) €532,800 in shares (301,480 shares @ $2.6366 CAD)
- PassWallet was the first app specializing in enabling Android users to store, organize and update Wallet passes, in the most simple and intuitive way. PassWallet can service all type of passes imaginable: boarding passes, transport cards, passes to the movies, theatres, concerts, museums, festivals, theme parks or stadiums, loyalty cards, vouchers and discount coupons in many stores, hotels and car reservations and more.
- Having recently reached 6 million downloads, Fobi expects this acquisition to drive further growth
- PassWallet, a leading app (by Google Play Store downloads) for managing and utilizing Wallet passes on Android phones. PassWallet works with other leading Wallet pass companies and supports more than 150 countries where Google Pay is not supported
Passworks (2023):
- Price - 500k EU paid by 1,674,264 shares @0.44
- Earn-Out Share Value: in the event the gross revenue of the Target and/or other affiliates of the Company from sales originating from existing clients of the Target and/or new clients originating as a result of the Vendor’s efforts meets or exceeds €300,000 during the one year period from the Closing Date
- Tier-1 clients: Hugo Boss, Catalina and Publicis.
- Passworks engages with consumers in real time and based on their location through the creation of mobile content that address loyalty coupons, promotions, event tickets, gift cards, membership cards, boarding passes and much more.
Wallet-Com digital wallet agency (2023):
- Price - 29,010 paid in shares +
- upon the achievement of certain revenue targets before the first anniversary of the Closing Date, the Company has agreed to pay to the Vendor an additional €81,000 (the "Earn-Out Share Value"), payable in common shares
- Tier-1 clients: Wallet-Com provides communications and marketing technology to over 200 global customers, including Lacoste, Hyundai, and McDonald’s.
- With operations in Spain, France, Portugal, Chile, Peru, and Mexico, Wallet-Com specializes in communication and marketing technology and possesses extensive experience in mobile and digital marketing, loyalty programs, media, and customer relationship and data management."
IMO these acquisitions have been very strategic and provide Fobi with a leading position in this industry.