Ackroo forms strategic partnership with automotive rewards competitor to expand their solution offering and reach
OTTAWA, Aug. 26, 2014 /CNW/ - Ackroo Inc. (TSXV: AKR), a loyalty and rewards technology and services provider, announced today that it has signed a partnership agreement with Dealer Rewards Inc. Dealer Rewards is a leading provider of integrated loyalty and rewards solutions for the automotive sector with over 250 locations across North America. Through this bi-lateral strategic partnership Ackroo will market Dealer Rewards' integrated loyalty and rewards solution to their current and prospective automotive dealer customers as a compliment to Ackroo's current stand-alone DealerCard solution. Dealer Rewards will market Ackroo's DealerCard platform and Ackroo's Local Merchant "Ackroo Anywhere" solution to their current and prospective automotive dealers while also being able to market to non-automotive customers. Together they become a powerhouse in the automotive sector while also growing each other's business across other retail verticals and geographies.
"We have been in discussions with Dealer Rewards for some time as we have looked to leverage each other's platforms, customers, and expertise to grow our businesses." said Steve Levely, chief executive officer at Ackroo. "This partnership provides 3 key benefits to Ackroo:
- A physical US presence as Dealer Rewards is based in the state of Delaware, USA
- The addition of features like DMS integration, allowing us to instantly provide product enhancements to our current and prospective dealer customers
- Lead generation for non-automotive dealers that Dealer Rewards and their sales organization will refer to Ackroo.
All critical things to allow us to continue to retain and grow our dealer base while helping drive our local merchant business forward."
"Dealer Rewards is very excited to partner with Ackroo." said Tim Doyle, President of Dealer Rewards. "This partnership will allow us to concentrate on our core competencies in the automotive industry while adding potential new revenue sources outside of the automotive industry. We have made significant investment into our platform to offer dealers additional features like DMS integration, customer notifications via e-mail, postal service, and social media, and providing detailed reporting and lost soul campaigns to take their Rewards Program to the next level. We look forward to supporting some of Ackroo's current and prospective automotive clients who may choose to transition or setup their rewards program on the Dealer Rewards Platform so that they too can benefit from our evolving product offering."
Ackroo also announces the resignation of Greg Feller from the board of directors. Greg will continue to support Ackroo in an advisory role. The company would like to thank Greg for all of his contributions and we look forward to working with Greg in his advisory role.
Ackroo provides gift card and loyalty solutions into the $145 billion North American gift card and loyalty market. Their solutions enable businesses, merchants and business networks to increase profitability and build long-term customer relationships through customized gift card and loyalty programs. Ackroo's web-based solutions provide the power of a massively scalable software platform in a lightweight online tool that works with existing point-of-sale equipment, making it easy and affordable for businesses to launch gift card & loyalty programs that deliver immediate return on investment. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Ackroo Inc.
For further information: John Chapman, Chief Financial Officer | Ackroo, Tel: 613-599-2396 x714, Email: [email protected]