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Verve Mobile Acquires Beacon and Mobile Wallet Tech Company

Verve Mobile Acquires Beacon and Mobile Wallet Tech Company

New York-based mobile marketing platform Verve Mobile has announced the acquisition of Fosbury, an outfit specialising in beacon and mobile wallet technology.

Previously, Verve has been concerned with location-based device targeting, something CEO Nada Stirratt asserts they do “better than anyone else”, which enabled customers to be intercepted “on or near” the in-store path to purchase.

Access to Fosbury’s beacon technology presents the company with greater potential for personalised messages, delivered straight to consumers on the high street, according to Stirratt:

"Fosbury further enhances this ability by maintaining that consumer connection for marketers in a more personalised and meaningful way, with the ultimate goal of driving them to the cash registers.”

Stirratt describes the Fosbury and Verve proposition as “incredibly powerful” and “available to marketers immediately”.

She may not be exaggerating with the former point, as beacon-triggered messaging is tipped to drive $44.4 billion in US retail takings next year.

But what Fosbury also brings to Verve is the potential to integrate mobile wallet functionality, akin to Apple’s Passbook and Google Wallet.

Verve president Tom Kenny said this will be a “key secondary action” in mobile marketing campaigns, as the group will now be able to serve coupon codes to customers near or in-store.

Hot competition

The acquisition puts Verve in a competitive new arena. Voucher code company RetailMeNot signed off a deal only last month with proximity-based marketing platform Swirl Networks.

That too equipped the former’s network of brands and retailers with the ability to deliver targeted in-store promotions to its 20 million-strong mobile user base.

Let’s hope this latest acquisition isn’t a Fosbury flop.

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Mark  Jones

Mark Jones

Editorial Executive at PerformanceIN. Mark reports performance marketing news and manages PI's network of guest contributors.

Originally from Plymouth, Mark studied in Reading and London, eventually earning his Master's in Digital Journalism- before making his return to the West Country to join the PI team in Bristol.

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