SOURCE: Warp 9, Inc.

Warp 9, Inc.

June 30, 2015 16:00 ET

Warp 9 to Acquire Profitable E-Commerce Solutions Provider

Company Signs Definitive Purchase Agreement to Acquire 100% of Colorado-Based E-Commerce Solutions Provider, Indaba Group LLC

SANTA BARBARA, CA--(Marketwired - June 30, 2015) - Warp 9, Inc. (OTCQB: WNYN), a leading provider of cloud-based e-commerce and mobile commerce solutions, today announced that it has signed a definitive agreement to acquire 100% of Indaba Group, LLC, (Indaba), a rapidly growing provider of enterprise digital commerce and digital marketing services, based in Denver, Colorado.

This major milestone marks the first transaction in the Company's previously announced growth-by-acquisition strategy. The strategy is aimed at strengthening the company's position and footprint in the industry through the strategic acquisition of profitable solutions providers with strong management teams. With this transaction underway, the Company intends to aggressively seek out other companies to acquire and consolidate into a global provider of cloud-based e-commerce and mobile commerce solutions to help online sellers and leading brands successfully conduct business online.

Indaba focuses on the front-end user interface, development, systems integration and digital marketing of Magento, Oro, and Enterprise Bigcommerce web solutions. It is one of the most trusted names in delivering successful online commerce solutions to retailers and businesses across the country. As part of this transaction, Warp 9 will consolidate its own e-commerce operation with Indaba to create a single solutions provider division, Indaba Group, Inc., which will be a wholly owned subsidiary of Warp 9.

According to data gathered by Statista, B2C e-commerce worldwide sales are estimated to reach $1.92 trillion in 2016. Further reports reveal "In 2018, US mobile retail revenues are expected to amount to 133.5 billion U.S. dollars, up from 42.28 billion U.S. dollars in 2013." The need has never been greater for online merchants to have robust and effective online commerce solutions.

"Acquiring Indaba is a huge win for Warp 9 and a key part of our strategy going forward," said Andrew Van Noy, CEO of Warp 9. "Indaba has the right team, the right customer base, and a shared vision of what we can become together. Indaba founders, Blake Gindi and Ryan Shields, have done an excellent job creating a trusted brand in the Magento, Oro and Bigcommerce industries. Indaba has a strong base of business and reputation in the US, and has a growing foothold in Europe with customer service provided by its UK office. This is a great foundation for us to build a global company together."

Ryan Shields, CEO of Indaba commented, "The Indaba team is incredibly excited to join forces with Warp 9. Since day one, Indaba has sought to work with only the best, including the most talented employees, the most desirable long-term clients and the most highly respected tech firms. It has been our quest to build a company based on the mantra 'Collaborate, Innovate, Grow' and when we met the Warp 9 team we knew we had met the right people to achieve this goal. The merger of our two companies will accelerate our vision to control, influence and guide the entire spectrum of cloud commerce transactions around the globe. Not only do we have a synergy of talents and complementary skills between our teams, but combined together, we will be able to innovate more rapidly, better serve our customers and achieve substantial growth."

Van Noy concluded, "Online commerce will continue to grow significantly over the next decade and it is our corporate goal to become the go-to partner in helping businesses succeed online. We plan to continue aggressively acquiring profitable companies that will strengthen our position as the leading cloud commerce solutions provider in the industry. The acquisition of Indaba is the first step in a very exciting journey."

The closing of the acquisition, as described in the definitive agreement, is subject to Warp 9's satisfactory review of the operations and audit of financial and corporate records of Indaba. The transaction is expected to close by September 2015.

About Warp 9

Warp 9, Inc. is a leading provider of cloud-based e-commerce and mobile commerce solutions. Offering fully managed Software-as-a-Service web and mobile commerce technology, Warp 9 allows customers to focus on their core online businesses, rather than on technical implementations. To learn more about Warp 9, please visit www.warp9inc.com or on Twitter at www.twitter.com/warp9inc, or on Facebook at www.facebook.com/warp9inc. To learn more about Indaba, please visit http://www.indabagroup.com.

Safe Harbor Statement

Matters discussed in this press release contain statements that look forward within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such statements that look forward. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the statements that look forward contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These statements that look forward are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

Contact Information

  • Media Contact:

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