U.S.-based fast casual restaurant franchise chooses the Ackroo Anywhere platform
Ackroo Inc., a gift card, loyalty and rewards technology and services provider, has been selected by another multi-location restaurant franchise putting the total amount of hospitality merchant locations Ackroo supports at over 750. The company’s continued focus on enhancing their platform to better support segments like hospitality which for Ackroo includes quick service and table service restaurants as well as hoteling merchants, has made it even more compelling for these merchant types to want to leverage the Ackroo platform and services.
“We are excited to continue to expand not only into hospitality but also the US market,” said Steve Levely, chief executive officer at Ackroo. “We have put great focus over the last few quarters on enhancing several aspects of our offering like our e-gift and promotional options to better support this segment. Displacing a competitor of ours in the US to earn this franchises business further validates our investment in this area and gives us confidence that we will continue to grow in this market in a very material way. We now support close to 700 hospitality merchant locations on our Ackroo Anywhere platform and are also adding 78 hospitality merchant locations from our recent acquisition of KESM/LoyalMark. Combined this represents almost 20% of our current total client base so a very important segment for us to continue to focus on and a segment that plays an important role in us achieving our goal of growing to 10,000 + locations by 2022.”
The company is also pleased to announce that it has completed the acquisition of the gift card and loyalty rewards business operated by KESM Transaction Solutions Inc., and its U.S. affiliate LoyalMark, LLC. In consideration for the acquisition of the business, the company has issued 35,800,000 common shares, and completed an initial cash payment of $100,000. A further cash payment of $100,000 is due on April 1, 2018. All common shares issued in connection with the acquisition are subject to a four-month-and-one-day statutory hold period. For further information regarding the acquisition acquired, readers are encouraged to review the company’s news release of November 15, 2017.
Ackroo provides gift card and loyalty processing solutions to help retail and hospitality merchants of all sizes attract, retain and grow their customers and their revenues. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card & loyalty transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo’s technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.