- Marble Financial (MRBL) has acquired certain assets comprising the Autocarz technology of eBunch Data & Development Ltd
- eBunch is a subsidiary of Foundation Automotive Corp
- Accumulate.AI Software Ltd., a wholly-owned subsidiary of Marble, acquired the Autocarz technology assets relating to eBunch’s inventory management system for auto dealerships and related assets
- It executed the acquisition from eBunch for consideration of up to C$550,000
- Accumulate.AI Software Limited is a marketing technology company specializing in high-quality lead generation and nurturing
- Marble Financial Inc. was unchanged at $0.09 at 10:47 ET
Marble Financial (MRBL) has acquired certain assets comprising the Autocarz technology of eBunch Data & Development Ltd.
eBunch is a subsidiary of Foundation Automotive Corp.
In accordance with the terms of the definitive agreement, Accumulate.AI Software Ltd., a wholly-owned subsidiary of Marble, acquired the Autocarz technology assets relating to eBunch’s inventory management system for auto dealerships and related assets.
It executed the acquisition from eBunch for consideration of up to C$550,000.
The purchase price payable by the purchaser is made up of a cash payment of $125,000 paid by the purchaser on closing and an earn-out payment equal to 33-1/3 per cent of the net income of the acquired eBunch’s business realized during the eight successive quarterly financial reporting periods following the closing date.
eBunch is a digital marketing technology company that generates more highly qualified leads for multiple industries across Canada.
Accumulate.AI, a new subsidiary of Marble, will offer businesses across Canada a full-scale revenue-generating eco-system to optimize their marketing budgets.
“We are excited to announce our acquisition of the Autocarz Business to create our new landmark solution, Accumulate.AI,” noted Karim Nanji, CEO of Marble.
“This transaction empowers Marble with the ability to enter new markets while also providing existing partners an opportunity to optimize their marketing spend towards higher ROI,” he added.
The company has also granted an aggregate of two million stock options under the company’s stock option plan.
eBunch is an information technology business that has developed a proprietary marketing platform which provides interest and re-qualification criteria to automotive dealers and service-based businesses.
Foundation Automotive Corp. is a growing international automotive group with dealerships in Canada and the United States.
Accumulate.AI Software Limited is a marketing technology company specializing in high-quality lead generation and nurturing, utilizing the power of machine learning to generate qualified consumers while rehabilitating unqualified leads into approved ones.
Marble Financial Inc. was unchanged at $0.09 at 10:47 ET.
