Wishpond Technologies announces acquisition of Brax.io for $2M
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Wishpond Technologies has entered an Asset Purchase Agreement (APA) with Brax.io to expand its product offering, enable significant cross-selling opportunities and increase its growth prospects
Wishpond Technologies, a provider of an all-in-one marketing suite for users to nurture leads, has entered into an Asset Purchase Agreement (APA) with Brax.io to acquire assets and specific liabilities of the digital ad management software solutions provider. The total consideration of acquisition is $2 million, a press release from Wishpond said.
Wishpond stated that Brax.io would be an immediately accretive acquisition for Wishpond and expand Wishpond’s product offering and capabilities into the digital ad management software solutions market. Additionally, Brax.io’s proprietary ad management platform is aimed at expanding Wishpond’s significant cross-selling opportunities and increase its growth prospects.
Ali Tajskandar, founder and CEO of Wishpond, expressed excitement at the acquisition and praised Brax’s proven track record with enterprise and ad agency customers that Wishpond plans to leverage for providing ad management software and services to its customers worldwide.
“This is our third acquisition and is in line with our strategy to grow organically and inorganically through tuck-in acquisitions of innovative and complementary technology companies.”
Brax, founded in 2014, offers an advertising platform for bulk management, unified reporting, and rule-based goal optimization of digital ads across multiple sources. It has a full-serve offering for small and medium-sized businesses that lack the expertise to manage and run digital advertising campaigns by themselves.
Wishpond stated that Brax has been generating a SaaS revenue of approximately $1.5 million over the past 12 months with high gross margins of about 80 percent and Earnings Before Interest, Taxes and Amortization (EBITDA), exceeding about 15 percent.