Mobivity Buys Digital Loyalty Solution
Mobivity Holdings Corp.has completed the acquisition of the Belly product line assets from Hatch Loyalty. Belly is a digital loyalty solution for brick-and-mortar businesses.
Under the terms of the agreement, Mobivity paid $3M which was funded through $2M of cash on hand and $1M of debt. The acquisition is expected to add more than $2M in top-line annual revenues, add more than $200k in annual cashflows, and will bring more than 2,000 deployed merchant locations and over 7 Million loyalty members to Mobivity’s market reach.
Mobivity plans on introducing an enhanced version of the Belly tablet-based loyalty product that is tied directly to the transactional data surfaced with Mobivity’s re•currency platform, allowing brands to tap into the full sphere of loyalty and one-to-one customer attribution. Similar to Mobivity’s re•currency solution, Belly employs a SaaS-based monthly recurring revenue business model with most of its clients.
This acquisition and the integration of the Belly loyalty solution into the re•currency platform, will enable businesses to reward actions that lead to higher customer frequency and spend. The platform will allow brands capture unique transactional data directly at the point of sale.