Mobivity Announces Exclusive Letter of Intent to Acquire Stampt Assets
Stampt, Mobile Loyalty App to More Than 1,000 Local Advertisers Nationwide
PHOENIX, AZ -- (Marketwire) -- 12/03/12 -- Mobivity Holdings Corporation (OTCQB: MFON), an award-winning provider of proprietary mobile marketing technologies and solutions, announced that it has entered into a non-binding letter of intent to acquire the assets of Sequence LLC, developers of the Stampt mobile loyalty application that has been utilized by more than 1,000 local advertisers across the United States.
Stampt's smartphone app offers a convenient way for customers to be rewarded for their loyalty. With Stampt, consumers can begin to get rid of the paper stamp cards that are in their wallet so they are never forgotten or lost again. In addition to the value-based loyalty incentives, Stampt also has built-in social integration features that bring a fun and interactive feel to the loyalty experience. Stampt's revolutionary customer loyalty program offers much more than just a paperless replacement for the classic buy-10-get-1-free type of loyalty cards. In addition to a having a paperless frequent buyer card, participating merchants are also able to view usage statistics and leverage this information by delivering targeted one-time-use special offers to the Stampt audience.
"Stampt is a perfect addition to our mobile marketing suite of services for local advertisers," said Dennis Becker, Chief Executive Officer of Mobivity. "More importantly, combining Stampt's install base with ours will extend our reach to more than 6,000 local advertisers nationwide who will now benefit from a unique combination of mobile messaging, social, and smartphone loyalty capabilities."
According to Sequence, more than 75,000 consumers have downloaded and registered for the Stampt smartphone application on both iPhone and Android platforms and there have been more than a half million stamps activated by Stampt consumers utilizing the application to log loyalty points at merchant locations. Market trials have also begun with Whole Foods in more than 90 locations across thirteen states.
"We have a vision to see Stampt in hundreds of thousands of businesses where paper-based loyalty cards have been used for decades," said Stampt's co-founder Brian Kelly. "Mobivity provided the reach and momentum to more quickly realize that goal. Combining Stampt with Mobivity's patented suite of services was a natural fit that we believe creates the most competitive and comprehensive mobile marketing solution to the local advertising industry."
Mobivity and Sequence have entered into a non-binding letter of intent with an exclusive negotiating period through January 15, 2013. Mobivity and Sequence are currently targeting a year-end closing for the transaction.
Mobivity (http://bit.ly/VLiB27) is an award-winning provider of patented mobile marketing technologies and the inventor of C4, a unique, enterprise-grade platform empowering brands to engage mobile consumers across multiple channels. The only system of its kind, C4 is a cloud-based solution, which provides broad mobile communications and extensive CRM features to clients. C4 is integrated with multiple tier-one PSTN/IP carriers and micropayment processing facilities as well as with carrier premium SMS billing systems. Additionally, Mobivity offers a unique HD graphical system through their Display Technology, which allows fans to interact with their mobile phones and high definition video boards and screens in real time. Mobivity's clients include CNN, Disney, NFL, Sony Pictures, AT&T, USTA, Chick-fil-A, the Golf Channel, NBC Universal, numerous professional sports teams, and many others.
Contact: For additional information, contact: MDM Worldwide Investor Relations Mobivity 264 W. 40th, Suite 602 New York, NY, 10018, USA (646) 403-3554
Source: Mobivity Holdings Corp.
Released December 3, 2012