Sprooki is pleased to announce it has signed a Share Purchase Agreement with Invigor Group – leading big data solutions company – for the acquisition of Sprooki Pte. Limited.
The whole Sprooki Team and its founders, Claire Mula and Michael Gethen, are very excited with this game changing acquisition. The retail industry is seeking to transform in order to grow profitably and remain competitive against new entrants such as Amazon. Being part of Invigor Group is a game changing addition to Sprooki that solidifies its position as the leading provider of loyalty and data solutions to Retailers and Brands.
The necessity to make the most of data intelligence and digital solutions to help drive revenue and increase profitability has become more urgent than ever with the approaching arrival of Amazon into Australia and Asia. The acquisition of Sprooki is a game changing addition to Invigor that solidifies its position as the leading provider of loyalty and data solutions.
Sprooki is a leading provider of shopper engagement and loyalty solutions in Asia with a customer footprint of 18 shopping malls and several thousand retailers across 6 markets, including Far East Organisation, Lend Lease Asia, Supermal Karawaci and GNC. Sprooki and Invigor have worked together to roll out their complimentary services in Australia at Manly Wharf.
With the Sprooki suite of solutions, Invigor will be well positioned to offer Retailers, Brands and Venue Operators as well as a wide range of industries cost effective tools that they need to action different sources of shopper and retail data to drive more profitable growth through personalised shopper engagement and long-term loyalty. Enabling them to level the playing field with online and omnichannel competitors, which has now become immediate and urgent.
The acquisition will give Sprooki and Invigor a significantly increased customer base, a greatly expanded geographical footprint and a comprehensive product offering to leverage existing customers for further growth, creating a major competitive advantage for the Company in the markets in which it operates.
Invigor’s Chairman and CEO, Mr Gary Cohen, said: “Sprooki is a transformational acquisition for Invigor and positions the Company as the unrivalled leader in loyalty and applied data solutions, delivering the very best predictive and prescriptive analytics to retailers, leading brands, shopping malls and venues in Australia, Europe and now Asia.Already we have identified multiple opportunities to market to our customers and this is expected to deliver almost immediate revenue-generating opportunities to the combined group.”
“We are pleased to welcome the Sprooki team to Invigor. The depth of talent they bring to our Board and management ranks help make this a transformational acquisition for Invigor. We look forward to seeking approval for this transaction from our shareholders and then working on the integration and obvious growth opportunities that Sprooki delivers.” Following completion, Invigor’s Board and management team will strengthened with Sprooki Co-founders Claire Mula and Michael Gethen taking senior leadership roles at Invigor.
Sprooki Co-founder Claire Mula added: “This transaction is a natural progression from our partnership with Invigor,that has delivered projects such as the digitisation of Manly Wharf. Sprooki and Invigor have complimentary products, presence and leadership. Together, we are stronger and aligned to unlock opportunities from existing and new customers and markets.”
“Today’s commerce takes place everywhere and retail sector enterprises need a game-changer to survive and thrive. Invigor with Sprooki provides an unrivalled offering in data analytics, loyalty and the new world of commerce delivered in an efficient and highly scalable way. The growth that can be achieved from combining our services and rolling them out across three large regions together with our joint R&D, will be a major benefit to our customers and their shoppers”.
Invigor will shortly seek shareholder approval through a general meeting which is expected to be held in early June. All necessary due diligence has now been completed. Download ASX Announcement here.
See more at: https://www.invigorgroup.com/invigors-game-changing-acquisition-of-e-commerce-platform-sprooki/#sthash.ljIydjC8.dpuf