- RIWI Corp. (RIWI) has signed a definitive agreement to acquire Research on Mobile (ROM)
- A purchase price of US$525,000 of cash will be paid by RIWI to ROM
- RIWI’s purchase of ROM will allow RIWI to expand into programmatic sampling to supply survey respondents
- ROM is a leading research technology company that has developed and commercialized proprietary survey software
- RIWI is a global trend-tracking and prediction technology firm
- RIWI Corp. was unchanged $0.78 at 9:51 AM ET
RIWI Corp. (RIWI) has signed an agreement to acquire Research on Mobile (ROM).
The transaction is expected to close within the next few days.
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.
It will also allow RIWI to support longer-form, highly targeted surveys and message tests worldwide.
It will also give the company enhanced survey access into several countries where RIWI has high demand for customer projects.
“The acquisition of ROM will accelerate our vision to become the world’s most trusted and transparent source of global data,” stated Greg Wong, RIWI’s Chief Executive Officer.
“This acquisition will accelerate our growth path through new customers, new product offerings and through new, transactional revenues,” he added.
“We are very eager to integrate our programmatic and API technology to the already existing robust RIWI technology stack, to grow together as one, and to provide our clients with even better and faster cutting-edge solutions to meet their ever evolving insights needs,” noted Nader Kobeissi, ROM’s Chief Executive Officer.
Under the terms of the arms-length transaction, a total purchase consideration of US$525,000 of cash will be paid by RIWI to ROM in connection with the closing of the transaction. The consideration includes $125,000 held back for any post-closing adjustments.
RIWI is a global trend-tracking and prediction technology firm which offers its clients tracking surveys, continuous risk monitoring, predictive analytics and ad effectiveness tests in all countries.
RIWI Corp. was unchanged $0.78 at 9:51 AM ET.
