Text messaging, mobile web development, and data analytics technologies to be integrated into the Ivrnet suite of products & services
CALGARY, Jan. 10, 2012 /CNW/ - 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
Ivrnet is a software as a service company that develops and operates intelligent software applications, delivered through traditional phone networks and over the Internet. These applications facilitate automated interaction; personalized communication between people; mass communication for disseminating information to thousands of people concurrently; and personalized communication between people and automated systems. Ivrnet's applications are accessible through nearly any form of communication technology, at anytime from anywhere in North America via voice, phone, fax, email, texting and the Internet. One of its brands, ITSportsNet, is a recognized international leader in online sports administration, providing sporting teams and organizations with a comprehensive suite of web-based software products that simplify and manage processes including registration, scheduling and website content. www.ivrnet.com
Forward Looking Information
This news release contains certain forward-looking information ("forward-looking information") within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "expect", "may", "will", "project", "should" or similar words suggesting future outcomes. In particular, this press release includes forward-looking information relating to the anticipated benefits of the ITSportsNet acquisition. Ivrnet believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.
Forward-looking information is based on various assumptions. Those assumptions are based on information currently available to Ivrnet.
Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties some of which are described herein. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Ivrnet's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward- looking information. Except as required by law, Ivrnet assumes no obligation to publicly update or revise any forward-looking information made as of the date hereof with new information, subsequent or otherwise.
Neither the 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.
For further information:
For more information, interviews or high-resolution visuals, please contact:
Mr. David L. Snell, Ivrnet Inc. President and CEO. (403) 538-4540 [email protected]
Mr. Hanif Mohamed, Marketing & Commercialization Manager, Ivrnet Inc. (403) 538-9775, [email protected]
Mr. Neil Bousquet APR, Media Relations, Ivrnet (403) 256-8834 [email protected]