Ackroo completes acquisition of InterActive DMS
June 01 2021 - 07:00AM
Ackroo Inc. (the “
Company” or
“
Ackroo”) (TSX-V: AKR) (OTC: AKRFF), a loyalty
marketing, payments and point-of-sale technology and services
provider, is pleased to announce that it has completed the
acquisition of InterActive DMS (“IDMS”) through its’ wholly-owned
subsidiary Ackroo Canada Inc. IDMS provides cloud-based and
on-premise dealer management software and web solutions to
independent car, motorcycle and boat dealers across the United
States. Under the terms of the acquisition, Ackroo acquired all
customer contracts and related IP adding over 150 clients to their
AckrooPOS business. In consideration for the acquisition, the
Company has paid $600,000 on closing and will make a final $300,000
payment less pre-paid adjustments on or before August 31, 2021.
About InterActive DMS
InterActive DMS provides fast, user friendly software for used car
dealers, motorcycle dealers, boat dealers and finance companies
that manage all aspects of inventory, sales processing, forms
printing, collections, custom management reports and electronic
document scanning and storage. The company has been providing
software technologies for independent dealerships since 1991 cover
46 different states across the US. For more information, visit:
www.interactivedms.com.
About Ackroo Through vendor and
industry consolidation, Ackroo provides marketing, payment and
point-of-sale solutions for merchants of all sizes. Ackroo’s
self-serve, data driven, cloud-based marketing platform helps
merchants in-store and online process and manage loyalty, gift card
and promotional transactions at the point of sale in order to
attract, engage and grow their customers while increasing their
revenues and margins. Ackroo’s payment services provide merchants
with low-cost payment processing options through some of the
world’s largest payment technology and service providers. Ackroo’s
hybrid management and point-of-sale solutions help manage and
optimize the general operations for niche industry’s including golf
clubs, automotive dealers and more. All solutions are focused on
helping to consolidate, simplify and improve the merchant
marketing, payments and point-of sale ecosystem for their clients.
Ackroo is headquartered in Hamilton, Ontario, Canada. For more
information, visit: www.ackroo.com.
For information, please contact:
Steve Levely Chief Executive Officer | Ackroo Tel:
416-360-5619 x730 Email: slevely@ackroo.com |
The TSX Venture Exchange has neither approved
nor disapproved the contents of this press release. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Forward Looking Statements This
release contains forecasts and forward-looking statements that are
not guarantees of future performance and activities and are subject
to risks and uncertainties. The Company has based these
forward-looking statements on assumptions and assessments made by
its management in light of their experience and their perception of
historical trends, current conditions, expected future developments
and other factors they believe to be appropriate. Important factors
that could cause actual results, developments and business
decisions to differ materially from those anticipated in these
forward-looking statements include, but are not limited to: the
Company’s ability to raise enough capital to support the Company’s
go forward plans; the overall global economic environment; the
impact of competition and new technologies; general market,
political and economic conditions in the countries in which the
Company operates; projected capital expenditures and liquidity;
changes in the Company’s strategy; government regulations and
approvals; changes in customers’ budgeting priorities; plus other
factors that may arise. Any forward-looking statements in this
press release are made as of the date hereof, and the Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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