AUSTIN, Texas--(BUSINESS WIRE)--Perk.com Inc. (TSX:PER) (“Perk” or the “Company”), a leading cloud-based mobile rewards platform provider, today announced that it has completed the acquisition of the Viggle App and related assets, which consist of a mobile and tablet application that uses incentives to make content consumption and discovery more rewarding for media companies, brands and consumers, intellectual property including patents in the rewards category, brand and advertiser relationships, and a direct sales force (the “Viggle Assets”). The transaction closed today, February 8, 2016. The Company previously announced the signing of an asset purchase agreement (the “Asset Purchase Agreement”) to acquire the Viggle Assets from Viggle Inc. (“Viggle”) on December 14, 2015. The Viggle business acquired by Perk pursuant to the transaction will be conducted by Viggle Rewards, Inc., a subsidiary wholly owned by Perk.
Ted Hastings, Chief Executive Officer of Perk, stated: “Here at Perk, we believe that rewards give brands the ability to engage with consumers in deeper ways than traditional advertising. Viggle is a premium rewards platform that has direct relationships with many well-known brands. The acquisition of the Viggle Assets has brought Perk to the forefront as a market leader with over 20 million combined registered users. We believe that the Company’s now expanded user base provides brands with additional opportunities for user engagement and that our wide selection of mobile apps and websites offer more innovative ways for brands to deliver their messages to intended audiences.
One of our key objectives over the past year has been to build a direct sales team and the acquisition of the Viggle Assets has accelerated this initiative by providing us with a strong team with proven results. We are thrilled to be establishing Perk’s presence with brands and agencies with key offices in New York, San Francisco, and Los Angeles. We intend for Viggle’s offices to act as a complement to our existing US locations in Austin and Palo Alto and expect to continue to grow the Perk and Viggle brands through the relationships Viggle has developed with leading consumer brands. We are excited to complete this transaction, not only for the Viggle App and its patents and user base, but also for the direct sales team it establishes across all of our owned and operated assets and extended third party audience.”
On signing of the Asset Purchase Agreement, Perk loaned to Viggle USD $1.0 million, which loan has been repaid by Viggle by reducing the number of Perk common shares issued to Viggle on closing of the transaction from 1,500,000 to 1,370,000.
About the Viggle App
The Viggle App is an award-winning cloud based advertising platform that works on mobile phones and tablets allowing users to earn rewards by watching TV and listening to music. After downloading and creating an account, consumers are able to play games along with TV shows, share comments through social media, answer trivia questions and discover more about the show. Users can also discover new music through the Viggle App.
About Perk
As a leading mobile rewards platform, Perk brings together the interests of consumers, advertisers, and publishers by offering consumers rewards such as Perk Points and other digital goods. Perk Points can be redeemed for gift cards, cash, or loaded on to Perk Plastik, a re-loadable branded debit card. Perk works with brands and publishers to reach consumers through truly engaging and innovative formats using rewards as a way to achieve maximum engagement of their brands and products.
Perk currently owns and operates 15 mobile applications that allow members to earn rewards such as Perk Points and digital goods. Perk also operates numerous websites as well as AppTrailers, a leading mobile video rewards app. In addition to offering rewards to members through its own mobile applications and websites, Perk launched its Perk Platform, Appsaholic which allows mobile and desktop publishers to utilize rewards to engage and entice users through the publisher’s own applications and websites. The Perk Platform was further expanded through the acquisitions of SuperRewards, a rewards and alternative payments platform for publishers and developers as well as Corona Labs, an app development platform that allows developers to develop apps for both iOS & Android.
Additional information about Perk can be found at its corporate website: ir.perk.com.
Cautionary Statement Regarding Forward Looking Statements
This press release contains forward-looking statements, including with respect to Perk’s business: the anticipated benefits of the Acquisition; the anticipated effect of the Acquisition on Perk’s strategy, operations and financial performance; user and advertiser engagement; Perk’s ability to establish new marketing partnerships; Perk’s ability to expand into new markets; and Perk’s ability to acquire and integrate new businesses and technologies. Such forward-looking statements reflect Perk’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate”, “believe”, “estimate”, “upcoming”, “plan”, “target”, “intend” and “expect” and similar expressions, as they relate to Perk or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to Perk and are subject to a number of risks, uncertainties, and other factors that could cause Perk’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements, including, but not limited to: maintenance by Perk of relationships with advertising network providers and partners before and following the Acquisition; successful development of the “Perk” brand; Perk’s ability to keep up with rapid technology developments in Perk’s markets; Perk’s ability to avoid defects in products and services delivered by Perk; Perk’s ability to attract app and website developers to its Appsaholic SDK; and Perk’s ability to successfully enter new business areas and geographic markets, including integration of the acquired business from Viggle; success of new products developed by Perk and Perk’s ability to retain key members of its management team. We do not undertake to update any forward-looking statement, except as required by law.