Technology investment holding company Value+ Nettwork has acquired a 51% stake in The Loyalty Box - a specialist loyalty, rewards and analytics company, with the founders retaining 49%.
A statement released today notes that The Loyalty Box - with its main focus on the small, micro and medium enterprise (SMME) market - allows retailers and franchisors to establish their own loyalty programmes, collect customer data, track purchases and market to customers selectively based on consumer behaviour.
William Kirsh, CEO and founder of Value+, said the acquisition is an important strategic step to position the company as a leading purveyor of turnkey corporate loyalty solutions in SA.
"Our group already has the exclusive rights to one of the world's leading loyalty management systems capable of running first tier corporate loyalty programs.
"The Loyalty Box now positions us very well to address the SMME market where we arguably see a bigger opportunity, as smaller players typically do not have the resources and time available to implement state of the art loyalty programs," he said.
He added that The Loyalty Box is affordably priced and highly automated, while its technology is integrated into leading point-of-sale providers with a combined reach of more than 12 000 retailers and franchisors in five countries including SA.
Meanwhile, Steven Levey, co-founder and CEO of The Loyalty Box said: "We look forward to growing our presence and extending our reach with the support of the Value+ Nettwork group of companies".
Earlier this year Value+ acquired Mygeni - a local technology provider that develops loyalty solutions to companies and brands in social media.
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