- 26 July 2017 14:34
SKYFII EXPANDS GLOBAL PRESENCE IN EUROPEAN AND NORTH AMERICAN RETAIL VERTICAL WITH ACQUISITION OF WICOMS WIRELESS PORTFOLIO OF CUSTOMERS
● Skyfii to acquire key assets of Wicoms Wireless that includes a portfolio of customers across Europe and North America
● Opportunity to upsell Skyfii’s ‘IO’ data analytics and marketing services to Wicoms’ existing customers
● Wicoms’ customer portfolio includes an operator of large format designer outlet malls located across nine countries
● Skyfii in advanced stages of negotiating a new multi-year revenue accretive deal with large format designer outlet mall operator to rollout Skyfii IO services to an initial 23 malls
● All scrip transaction for 3,800,000 new ordinary shares in Skyfii Limited (issued at $0.065 per share, valued at $247,000)
SYDNEY, AUSTRALIA, July 26th, 2017 – Skyfii Limited (ASX: SKF) (Skyfii, or the Company), a data analytics and marketing services company, is pleased to announce significant global expansion in Europe and North America with the acquisition of key assets from Wicoms Wireless Ltd (‘Wicoms’). Wicoms is a provider of guest WiFi services and user analytics to the retail sector, with a portfolio of customers including a group of designer outlet malls under contract.
In line with Skyfii’s stated plans to strategically expand its global footprint in 2017, the acquisition of Wicoms portfolio of customers will see the Company expand its international retail sector footprint within key overseas geographies of North America and Europe. The acquisition will enable Skyfii to leverage an existing revenue generating footprint and subsequently upsell the Wicoms’ retail mall customers with a greater level of data analytics and marketing services, than what is provisioned under Wicoms’ own technology platform.
Based in the UK, Wicoms has grown its sizeable customer portfolio directly and through reseller arrangements over the past 9 years, that currently includes a group of designer outlet malls operating across nine countries. The Wicoms portfolio and the key assets being acquired by Skyfii has a profitable customer base, making this a revenue accretive deal for Skyfii.
Wayne Arthur, Chief Executive Officer, Skyfii said “We are extremely pleased to be acquiring key assets from Wicoms including contracted revenues from a large retail footprint. This transaction brings a profitable asset onto the Skyfii balance sheet, and significant short term opportunity to grow the portfolio value through the upsell of Skyfii’s data analytics and marketing services.
“The deal terms on the transaction are favourable, and will springboard our international retail sector growth across key geographies of Europe and North America.”
Skyfii and Wicoms have agreed a transition plan and have already commenced a process to migrate and upgrade existing Wicoms customers to the Skyfii platform. This includes a new multi- year revenue accretive deal with a large format designer outlet mall operator which is in advanced stages of negotiation. Successful conclusion of negotiations with see Skyfii deploy its IO services across an initial 23 designer outlet malls, with the further potential to expand to a further 7 malls.
The transaction will be completed using an all scrip consideration of 3,800,000 new Skyfii shares issued at $0.065 per share (‘Consideration Shares’), valued at $247,000. The Consideration Shares will be issued immediately, and will be subject to 12 month escrow provisions.
About Wicoms Wicoms provides guest WiFi and analytics services across Europe and North America. Based in the UK, Wicoms began selling WiFi services in the UK to hotels, pubs and gyms before expanding to retail malls in continental Europe.
About Skyfii Advancements in cloud, mobile technology and Wi-Fi systems have enabled bricks-and-mortar venues to become more competitive by better understanding the needs of their diverse types of visitors. Today, every smartphone is a chatterbox of information. The cloud-based Skyfii platform uses existing WiFi infrastructure, BLE beacon networks, door-to-people counters, video sources, web and social platforms to allow various types of venues to not only analyse behaviour of anonymous visitors, but also capture data from those who opt-in to free internet connectivity. In doing so, it converts the data into a critical sales and marketing tool that allows venues and their commercial tenants to deliver content that is catered to each visitor’s needs and interests. Skyfii offers a cloud-based solution in a subscription model consisting of three core ‘IO’ services: ● IO Connect: a data portal where data is collected (Data in) ● IO Insight: venue performance, customer behaviour and, loyalty & engagement (Insights out) ● IO Engage: targeted content delivery, automated marketing and monetization
Skyfii also engages with clients to provide further revenue generating services such as Data Consulting Services (DCS) and Marketing Services (MS) arising from the insights gained from its three core services.
Media contact: DEC PR E: Skyfii@decpr.com.au P: +61 2 8014 5033