- Golo Mobile (TSXV:GOLO) has signed an agreement to acquire eServus Online Services
- Golo will pay a total of C$6.5 million in cash and common shares for the acquisition
- eServus’ discounts and offers will now be available through Golo Mobile’s online pick and delivery service
- Golo Mobile (GOLO) is up 22.22 per cent, with shares trading for $0.33
Online delivery service, Golo Mobile (TSXV:GOLO) has signed an agreement to acquire eServus.com Online Services.
Golo will pay a total of C$6.5 million for the acquisition. $2 million will be payable in cash with the rest to be paid in common Golo shares.
Founded in 1999, eServus is an online corporate concierge platform providing discounted services to office tenants.
It currently services roughly 75,000,000 square feet of commercial office tower space.
The combined Golo-eServus entity will be the first of its kind. Golo hopes to integrate eServus’s tenant engagement with their last-mile delivery service.
Peter Mazoff, Golo CEO, believes the two companies complement each other well.
“We will be able to add more products on our platform as well as scale our business by expanding into new markets and increasing our footprint within existing ones,” he said.
Kirk Layton, CEO of eServus, is likewise excited for the acquisition.
“We look forward to combining our skillsets to help create a truly original company that will benefit property managers and their tenants.”
eServus will now contribute its products to Golo’s platform, which Golo can then deliver to and from its customer base.
Golo Mobile (GOLO) is up 22.22 per cent, with shares trading for $0.33 at 3:56 pm EST.