Ottawa’s Ackroo has completed the acquisition of all assets of PhotoGIFTCARD, a Vancouver company with roots in consumer goods marketing, production and distribution.
In a release issued Thursday, Ackroo (TSXV: AKR) said the deal will strengthen its presence in the “multibillion-dollar gift card market by adding innovative features to their existing market-leading platform.”
Ackroo’s merchant footprint will be increased as well with the addition of PhotoGIFTCARD’s more than 500 locations.
Ackroo CEO Steve Levely said PhotoGIFTCARD’s solution will be appealing to Ackroo’s existing customers.
“We will be able to offer our merchants an easy-to-use, intuitive portal that gives consumers and businesses the ability to create and customize their gift cards,” he said. “We also gain the ability to provide an online gift card mall for all of our customers where they can share a single online Ackroo shopping destination that will allow consumers to purchase our merchants’ gift cards via e-gift or physical standard or custom cards.”
Mr. Levely credited PhotoGIFTCARD with doing a good job in supporting and growing its merchant base and said his company looks forward to adding those customers.
“We are committed to extending the same great service they have experienced to date,” he said.
Terms of the deal were not released.