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Wishpond Announces Acquisition Of Brax.Io - A Provider Of Ad Management Software Solutions

Aug 30, 2021•almost 4 years ago

Acquiring Company

Wishpond Technologies

Acquired Company

Brax.io -

Sales And Marketing

Description

Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX: WPNDF) (the "Company" or "Wishpond"), a provider of marketing-focused online business solutions, is pleased to announce that it has entered into an asset purchase agreement (the "APA") to acquire certain assets and specific liabilities from AtlasMind Inc. (d/b/a) Brax.io ("Brax"), to be effected through a wholly owned subsidiary of the Company (the "Acquisition") for total consideration of approximately US$2.0 million. Based out of New York, Brax is a rapidly growing and profitable technology company that offers a robust advertising platform for the management of a company's digital ads across multiple sources. Brax is expected to expand Wishpond's technology and capabilities into the adjacent market for digital ad management software solutions.

Company Information

Company

Wishpond Technologies

About

Based out of Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions. Wishpond's vision is to become the leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company offers an "all-in-one" marketing suite that provides companies with marketing, promotion, lead generation, and sales conversion capabilities from one integrated platform. Wishpond replaces entire marketing functions in an easy-to-use product, for a fraction of the cost. Wishpond serves over 3,000 customers who are primarily small-to-medium size businesses (SMBs) in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions and continues to add new features and applications with great velocity. The Company employs a Software-as-a-Service (SaaS) business model where substantially all the Company's revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker "WISH", and on the OTCQX Best Market under the ticker "WPNDF". For further information, visit: www.wishpond.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed