Consorteum Holdings Inc. engages in the payments and transaction industry. The company recently announced its intentions to acquire Tenzing Interactive in a transaction with a purchase price payable over a two-year period, made up of a combination of cash and Consorteum shares.
Toronto-based Tenzing Interactive provides Internet and mobile marketing technologies and solutions, including the Pics2Web marketing and event activation solution. Consorteum CEO Craig Fielding said the acquisition will position both companies to advance in the marketplace, and correlates with Consorteum’s plans to extend its local and international market reach.
“The market for our solutions is expanding rapidly. This new collaboration will allow us to significantly grow our current business opportunities while bringing on contracts in new areas. The ability to expand existing client agreements and take advantage of new international opportunities puts both Consorteum Holdings and Tenzing Interactive in a strong position to increase revenues and shareholder value,” Fielding state in the press release.
Consorteum will utilize Tenzing Interactive’s established partnerships to fulfill its long-term business strategy, increase revenues of current initiatives and generate additional income. According to the release, existing and new clients will benefit from Tenzing Interactive’s branding solutions paired with Consorteum’s transaction solutions.
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