Ottawa-based Ackroo announced Tuesday it has acquired a Toronto digital agency’s mobile payment and loyalty assets.
Ackroo will issue 500,000 shares and pay D1 Mobile a performance-based cash bonus in exchange for its mobility pay and loyalty platform and its 281-location customer base.
The acquisition is an “exciting advancement” for Ackroo, CEO Steve Levely said in a statement.
“As the company continues to pursue consolidation in a crowded gift card and rewards landscape, opportunities to acquire businesses or assets like the D1 Mobile Appetite platform and their merchants help position Ackroo for even greater success and scale,” he said.
D1 Mobile specializes in mobile experiences that link brands with their customers. Mr. Levely said the company has done an “amazing job” developing its technology and growing its customer base, which will help Ackroo’s next phase of growth.
D1 Mobile founder and president Daniel Ezer said he thinks clients of both companies stand to benefit from the deal.
“We are excited to join Ackroo’s very competent management team and believe the acquisition will prove to be a win for all parties involved,” he said in a statement.
The deal remains subject to the final approval of the TSX Venture Exchange.