Wireless ASP Semotus Solutions announced Monday (April 9) the completion of a stock-for-stock acquisition of e-commerce infrastructure provider WizShop.com. Terms of the transaction were not disclosed.
The boards of both companies, and the shareholders of WizShop.com have approved the transaction. The purchase brings to Semotus approximately $1.2 million in cash, a reliable revenue stream and a significant customer base that includes Juno and EarthLink.
“WizShop.com will have an immediate positive impact on both our cash flow and our revenues, and is a natural fit with our other e-commerce infrastructure subsidiaries,” said Anthony N. LaPine, Semotus Solutions chairman and CEO. “WizShop.com will augment our end-to-end e-commerce and m-commerce solutions for enterprise businesses. We expect to take advantage of WizShop’s large portal customer base for marketing all of our products and services, which should significantly enhance our revenues.”
This acquisition represents Semotus Solutions’ fifth successful revenue-generating acquisition in the past nine months. Other acquired companies include Five Star Advantage, Inc., a Valencia, Calif., eFulfillment company; Thorofare, N.J.-based e-commerce solution provider WaresOnTheWeb; pharmaceutical software developer Simkin Inc. of Gainesville, Fla.; and wireless data communications solutions provider Cross Communications Inc., based in Downers Grove, Ill.
WizShop.com, located in Sherman Oaks, Calif., builds and maintains outsourced e-commerce environments, with nearly one million unique visitors per month on WizShop.com-powered, co-branded shopping sites. WizShop also creates online sales and merchandising programs for its clients.
Semotus Solutions , formerly Datalink.net, delivers end-to-end wireless solutions to its enterprise customers. Semotus’ patented technology and real-time delivery systems enable enterprise customers and employees to utilize any wireless device to receive and respond to critical data.
Semotus’ XpressLink technology is aimed at high-demand vertical markets, including finance, medical and the mobile workforce. This technology produced an integrated enterprise product, Global Market Pro, Semotus’ fully customizable wireless application for the financial professional co-developed with JPMorganChase.
Semotus Solutions is headquartered in San Jose, Calif., with research facilities located in Vancouver, British Columbia and offices in Illinois, Pennsylvania, New Jersey and Florida.
