Monday, 18 June 2018 12:00

Syntonic flags acquisition of Zenvia mobile unit

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Australian-listed, US-based mobile platform and service provider Syntonic has signalled its intention to acquire the mobile commerce business unit of Brazilian application-to-person sector service provider Zenvia.

Syntonic (ASX:SYT) says the proposed acquisition includes Zenvia’s core technology platform, operational assets, and the assignment of all contracts for a cash consideration of US$700,000 (A$940,000). It also includes a vendor earn-out of 20% of the first US$21.5 million (A$28.9 million) of contribution margin generated by the acquired assets over 3.5 years.

The proposed acquisition is subject to Syntonic board approval and the executing of formal binding agreements.

Syntonic says that, subject to execution of formal agreements, it proposes to operate the Zenvia Mobile Commerce Platform as a stand-alone business and as a value-added service integrated with its own Connected Services Platform.

And Syntonic says the integrated platform provides content providers and brands the full tools for customer acquisition and engagement, using Freeway’s sponsored data and data rewards services, and customer monetisation using the cross-carrier MCP. The combined platform enables the mobile operator to augment their business with revenue streams from mobile advertising and mobile commerce.

Gary Greenbaum, chief executive and managing director of Syntonic, said, “The proposed acquisition of Zenvia’s mobile commerce business unit represents an exciting strategic development for Syntonic. The business is well established and generating revenues through its operator and content partnerships. The respective business and technical assets complement each other and allow us to enhance the Freeway value proposition for consumers, operators, and content providers, and to capture new revenue opportunities.

“Following completion of the proposed acquisition, Syntonic will be the only company with a mobile commerce platform integrated with all of Brazil’s major operators and partnerships with major content providers using the platform service.

“These established relationships form a solid foundation for Syntonic to offer tailored solutions to its partners and an ideal platform to launch Freeway service into Brazil, the ninth largest economy in the world.”

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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