Smartpay Moves To Acquire of Retail Radio
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Smartpay Moves Ahead With 100% Acquisition of Retail Radio
Auckland, 4 December 2007 New Zealand’s electronic product distribution and integrated merchant services provider SmartPay Ltd (NZX: SPY) announced today that it has acquired 100 percent of leading digital signage and sensory media company Retail Radio (www.retailradio.co.nz).
The Retail Radio acquisition, which is subject to shareholder approval, comes after SmartPay’s other recent announcement that it has acquired Merchant IP Services Limited (MIPS www.mips.co.nz) and is part of the Company’s strategy to develop new business opportunities and to become a leading player in the integrated merchant services market.
Linc Burgess, CEO of SmartPay says “SmartPay is planning a number of acquisitions like Retail Radio that will give the Company a distinct merchant offering and capability that can provide retailers the full spectrum of services as a single provider without the hassle and expense of managing multiple carrier and service provider relationships.”
Burgess says that
the purchase of Retail Radio fully secures a strong growth
investment opportunity within the business and positions
SmartPay as a leader in being able to offer merchants the
latest digital signage technology to boost their sales and
“The integration of Retail Radio will provide a significant additional service SmartPay can offer its current customer base and also allow SmartPay products to be offered to the Retail Radio customer base,” says Burgess.
Retail Radio has recently completed a successful digital signage trial with the Paper Plus mega store at the Sylvia Park shopping complex in Mt Wellington Auckland, and is also in discussions with a number of prospective Australian distributors and partners.
The Retail Radio system provides a music and advertising service with innovative and creative in-store advertising, brand messaging, point of decision marketing and the technical delivery of commercial In-Store Radio to increase sales in the merchant’s environment.