Ivrnet to acquire TxtMeNow, a leading mobile marketing company
Text messaging, mobile web development, and data analytics technologies to be integrated into the Ivrnet suite of products & services
Calgary, Alberta, (January 10, 2012) -- Ivrnet Inc. ("Ivrnet") (TSX-V: IVI) is pleased to announce that it has an agreement in place to acquire Calgary-based TxtMeNow mCommerce Inc. ("TxtMeNow”), a recognized leader in helping North America's leading brands to leverage text messaging, mobile websites, and data analytics into their marketing strategies. In return for receiving all the issued and outstanding common shares of TxtMeNow, Ivrnet agrees to provide the partners of TxtMeNow a total of 350,000 Ivrnet common shares and revenue sharing incentives until December 31, 2014.
“The timing of this latest acquisition fits perfectly with our current growth strategy,” says David Snell, Ivrnet’s President and CEO. “We were aware of TxtMeNow as they had been collaborating with ITSportsNet (whom we acquired in 2011) to innovatively integrate text messaging within their platform. We see tremendous promise in their text messaging, mobile web development and data analytics technologies and think they are ideally suited to enhance Ivrnet’s suite of products moving forward.”
TxtMeNow CEO Hanif Mohamed concurs, “The timing is also critical for us, particularly given the rapid propagation of mobile technologies within the global marketplace. We want to grow and expand our technology, and Ivrnet has the internal and financial resources to help us achieve that. It also has a huge customer base that we believe is ripe for the integration of our mobile marketing technologies. To help with the integration of TxtMeNow products as well as help Ivrnet develop a stronger market presence, I have accepted a management role at Ivrnet. As Marketing and Commercialization Manager, I will be responsible for the integration of TxtMeNow technologies into all facets of Ivrnet’s products and services, as well as directing marketing and product commercialization initiatives going forward.”
Ivrnet’s acquisition of TxtMeNow is expected to conclude on or before January 31, 2012.
Formed in 2009, TxtMeNow mCommerce Inc. has been helping some of North America's leading brands to leverage text messaging, mobile websites and data analytics into their marketing strategies. TxtMeNow technologies assist marketers to quantify advertising, reduce customer acquisition costs and add value to customers. Through their engagements with Microsoft, Open Text, Mr. Lube, Canada Safeway, Old Dutch, Mark's, and even helping Calgary Mayor Naheed Nenshi get elected, TxtMeNow has demonstrated consistent excellence and innovation in the mobile marketing space. www.txtmenow.ca