They have verified the purchase that they have made of the MeNetwork firm.
Spindle Inc., the provider of mobile payments solution. has just announced that it is officially acquiring the mobile marketing firm called MeNetwork Inc.
The Scottsdale, Arizona based company will be integrating the services provided by the two businesses.
MeNetwork is a new location based mobile marketing solution provider that has been drawing a great deal of attention to itself. Spindle’s announcement of the acquisition explained that MeNetwork’s smartphone friendly advertising technology will be integrated into its own payments platform.
As of yet, there have been no financial terms revealed regarding the purchase of the mobile marketing company.
This most recent purchase has only proved to underline the growing trend throughout the industry that is having mobile marketing and payments companies coming together within the channel.
MeNetwork already boasts client relationships throughout Europe and the United States and is probably going to provide Spindle’s smartphone payment and loyalty solutions offerings a considerable expansion beyond its own steady growth. At the moment, Spindle’s primary focus is on retail and banking organizations.
The president of Spindle, Bill Clark, explained that “We are delighted to finalize the deal with MeNetwork, which now gives Spindle a comprehensive mobile commerce solution that incorporates mobile marketing and mobile payments.”
Clark’s company has taken part in a number of partnerships and acquisitions, recently, including this one with MeNetwork. In February of this year, there was another massive partnership that occurred between Spindle and PayLeap, another payment company that is Acculynk’s payment processing solution. In this case, it was a strategic partnership and not a purchase, and it was not with a mobile marketing company, but this does reflect the rapid growth and state of flux in which Spindle currently finds itself.
The hope for Spindle is that it will be able to allow its merchant clients to leverage the powerful new connections provided by its mobile marketing technology integration in order to build customer loyalty, drive commerce, as well as giving consumers the ability to experience and share unique content through their favorite social media network.