Community and stakeholder engagement technology business MySite Group has acquired local mobile marketing outfit Norbit.
Street Talk understands the pair agreed a deal in the past week, which was signed off on Sunday and is MySite’s second acquisition in three years.
Norbit has a mobile marketing product, primarily used by retail clients like shopping centre managers. Customers download the mobile application and are provided with rewards for shopping in a centre, while the shopping centre manager collects data on how its facility is being used.
MySite thinks Norbit’s digital engagement software will compliment its existing products Consultation Manager and Social Pinpoint.
Those two platforms are focused on stakeholder and community engagement and are used by the likes of local and state governments, as well as Glencore, TransGrid, Acciona and others.
“We look forward to showing our existing and future customers how the Norbit app can enhance community and stakeholder engagement programs through the use of gamification, augmented reality, and loyalty rewards strategies,” MySite chief executive Craig Chudleigh told this column.
MySite funded the acquisition with the free cash-flow it has generated from doubling its earnings in the past two years. The company has more that 50 staff in Australia and the United States, compared to 20 about a year ago.
MySite CEO Chudleigh is supported by a board that includes KPMG M&A partner Brendan Larsen.
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