Spindle Announces Acquisition of MeNetwork
SCOTTSDALE, AZ -- (Marketwire) -- 03/08/13 -- Spindle, Inc. (SPDL.OB), (OTCBB: SPDL), a leading provider of mobile payments solutions, today announced it has acquired MeNetwork Inc., a Colorado-based provider of location-based mobile marketing solutions for businesses and consumers. As a result of the acquisition, Spindle will integrate MeNetwork's mobile advertising technology into its advanced mobile payments platform to provide the industry's most holistic mobile commerce environment, from initial consumer contact through fulfillment. MeNetwork works with merchants in 84 markets across the United States where it delivers location-based marketing, including offers, events, goods and services, in a comprehensive and efficient mobile commerce ecosystem. MeNetwork has recently expanded to over 20 markets in Europe.
"We are delighted to bring MeNetwork into the Spindle family," said Bill Clark, president of Spindle, Inc. "The combination of our two solutions will result in an ideal ecosystem. Our partners will now be able to offer merchants a turnkey, full-featured, mobile commerce service that identifies and satisfies consumers looking to find the best offers and events in their immediate location. Additionally, the combined platform will provide a direct interaction between merchants and their customers. This will result in increased sales, customer loyalty, and simplify the use of mobile commerce between buyers and sellers."
In addition to addressing the mobile commerce requirements of merchants, the combined solution offers a number of profound benefits to consumers. Users can "subscribe" to the merchants and categories they're interested in, such as dining, entertainment, or shopping, which ensures they're only seeing relevant content from businesses they care about. Consumers can also buy merchandise and services through Spindle's secure payment application, redeem loyalty points, and access event tickets, receipts and other items right on their mobile device.
"We are excited to join Spindle and help deliver a comprehensive mobile commerce solution that meets the rapidly-evolving needs of merchants and consumers," said Mike Corbisiero, president and chief executive officer of MeNetwork. "The synergies between our two companies are substantial. We look forward to working with the Spindle team in creating the world's most dynamic, flexible, reliable and secure mobile commerce platform."
About Spindle, Inc.
Spindle is an innovator of mobile payment solutions for the banking industry, retail sector and consumer-facing companies. A pioneer in "Frictionless Finance," the company is actively developing new and improved ways for companies and end consumers to fluidly transact and exchange funds, regardless of platform. The Company is dedicated to delivery of secure payment services crossing traditional boundaries by offering cutting-edge solutions that enable buyers, sellers and individuals to transact face-to-face or virtually using mobile or Internet devices. The Company also owns and has developed an extensive intellectual property portfolio, including patents pending, covering networks, mobile payments and security. For more information, visit www.spindlehq.com.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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Source: Spindle, Inc.