October 09, 2009 03:33 ET

WebSpy Announces the Proposed Acquisition of Marketboomer

PERTH, WESTERN AUSTRALIA--(Marketwire - October 9, 2009) - WebSpy (ASX: WSY), a developer of internet monitoring and reporting software, today announced the proposed acquisition of procurement and materials management system provider, Marketboomer. The Australian-based WebSpy expects to significantly boost its cashflow, revenue and generate profitable operations with the acquisition of the Marketboomer Group of companies, Marketboomer Pty Ltd and Ortas Enterprises Ltd.

Marketboomer helps businesses (such as InterContinental Hotel Group, Emirates Airline Catering, Hyatt and more) take cost out of their supply chain. The solution enables businesses to trade with each other more effectively using the Internet, allowing purchasers to buy from suppliers at the best possible price at a given point in time, and by improving processes. Marketboomer typically reduces clients' procurements costs by between 8 and 20%, and additionally creates process savings and efficiencies of 20% or more within the procurement function.

WebSpy's CEO, Jack Andrys, says, "Marketboomer's business is highly complementary to WebSpy's activity and this acquisition will provide significant synergy benefits and strategic expansion opportunities. The transaction is a very positive step towards generating sustainable growth in future revenue and it will contribute significant working capital generated from its operations."

Marketboomer's customer base represents a strategic and natural market for WebSpy's software. Both WebSpy and Marketboomer products are B2B, based around Internet and large data manipulation, and can be applied to any industry sector and any size business. The products also provide a great lead in for the other within a business, whilst being complementary in the areas of cost management and productivity improvement.

Andrys continues, "The acquisition will also enable WebSpy to gain additional operational and development capability in Europe, the Middle East, China and South East Asia. The Marketboomer Group has established marketing presence in Australia, Ireland, China, Indonesia, Thailand, Saudi Arabia, the UAE and Singapore. These additional marketing centers will strengthen WebSpy's own marketing resources. WebSpy on the other hand has been operating in the United States for nearly 10 years and will be able to assist Marketboomer's entry into the region."

The proposed acquisition needs to be approved by shareholders, more information at: www.webspy.com/newsroom/announcements/Marketboomer-Acquisition.pdf

For all other information please visit www.webspy.com, www.marketboomer.com or alternatively contact Åsa Davidsson, Media Relations on: +61 8 9321 3322 or asa@webspy.com

Contact Information

  • Contact:
    Åsa Davidsson
    Media Relations
    +61 8 9321 3322
    Email Contact