Mobile marketing services provider Snipp Interactive (CVE:SPN) unveiled Wednesday an agreement with VirKet S.A. to offer its "Mobilize Me" technology platform in Mexico in the Spanish language.
is a marketing leader in Mexico with an impressive client list, and
demonstrated ability to take advantage of emerging technology and
marketing trends," said CEO of Snipp, Erik Hallstrom.
"This is a key relationship for Snipp as we continue to expand our international market footprint."
the strategic partnership agreement, Snipp will license its platform
and provide mobile marketing services with VirKet in the Mexican market -
on a exclusive basis.
VirKet, a Mexican provider of digital
marketing services, will correspondingly use Snipp as its exclusive
provider of mobile marketing technology.
Snipp's “Mobilize Me”
platform supports several input mechanisms for mobilizing marketing
campaigns for companies, including text message, QR codes, Microsoft tags and Snapp tags.
platform then delivers a variety of content experiences to customers as
part of sales tactics, including SMS, mobile web pages to collect data,
emails, mobile videos, audio, sweepstakes, coupons, and ringtones,
Already, without any dedicated full time sales
resources, the business, which was established in 2007, has provided its
services to several Fortune 500 companies and other major brands,
advertising agencies and publishers, including Wal-Mart (NYSE:WMT), ESPN, Time Inc, Ford (NYSE:F), Nike (NYSE:NKE), Wendy's (NASDAQ:WEN) and Campbell Soup (NYSE:CPB).
initial term of the deal with VirKet will be for one year, with an
option for VirKet to extend for a second year and a right-of-first
refusal for an extended exclusive license beyond the initial two-year
term - all subject to reaching certain business performance targets.
the deal, VirKet will also commit to making investments required to
launch Snipp's "Mobilize Me" platform in the Mexican market, while Snipp
has granted VirKet up to 3.33 million warrants to purchase company
The warrants are exercisable at a price of 22 Canadian
cents per share and vesting will be subject to VirKet achieving certain
agreed business performance targets, Snipp said.
The two parties have also agreed that VirKet will provide Snipp with its expertise and services for search engine optimization.
agreement makes Snipp’s mobile marketing technology available for
implementation and interaction throughout Canada, the United States and
"With Snipp's mobile marketing platform, we can
effectively merge the offline and online marketing solutions we build
for our clients across a range of industries in Mexico including some of
the leading retail, consumer and publishing brands in the country,"
said CEO of VirKet, Pedro Quinzaños Cancino.
"More and more
clients in Mexico are looking for mobile solutions. Snipp’s scalable
technology is ideal to support our growth and we really like the dynamic
ideas and solutions they can quickly bring to market."
D.C.-based Snipp generates revenue by designing, constructing,
implementing and managing mobile marketing services for its customers.
The company also has international operations in Canada, Mexico and