- RIWI Corp. (RIWI) has completed its acquisition of Research on Mobile (ROM)
- A total purchase price of US$525,000 will be paid by RIWI to ROM
- ROM is a leading research technology company that has commercialized proprietary survey software
- RIWI is a global trend-tracking and prediction technology firm
- RIWI Corp. (RIWI) opened trading at C$0.80
RIWI Corp. (RIWI) has completed its previously announced acquisition of Research on Mobile (ROM).
ROM is a leading research technology company that has developed and commercialized proprietary survey software.
RIWI’s purchase of ROM will allow RIWI to expand into programmatic sampling to supply survey respondents for the major research marketplaces servicing commercial businesses worldwide.
Greg Wong, RIWI’s Chief Executive Officer, commented on the news.
“We are thrilled to officially welcome the ROM team to RIWI. We have communicated to the market that our growth strategy is to focus on our key customer verticals and technology stack while accelerating our business even further through strategic acquisitions. Acquiring ROM is the first step in this acceleration. We are excited to work together with the ROM team to deliver on our commitment to offer amazing data products to a new, expanded customer base across the globe.”
Under the terms of the transaction, a total purchase price of US$525,000 in cash will be paid by RIWI to ROM in connection with the closing of the transaction. This includes $125,000 held back for any post-closing adjustments. ROM may also receive additional earn-out payments subject to the satisfaction of revenue, profitability and employee retention targets for the 2022, 2023 and 2024 fiscal years.
RIWI is a global trend-tracking and prediction technology firm which offers its clients tracking surveys, continuous risk monitoring, predictive analytics and ad tracking worldwide.
RIWI Corp. (RIWI) opened trading at C$0.80.