Como to acquire Israeli co Keeprz for $50m

Ronen Shilo

Keeprz's app is designed to help small and medium-sized businesses retain customer loyalty.

Israeli app builder Como (formerly ConduIT Mobile) is set to acquire Israeli startup Keeprz, which has developed an app making it possible to enhance the loyalty of customers to small and medium-sized business. The parties have not yet signed the acquisition agreement, and a due diligence procedure must be conducted first, but it appears that the price being discussed is $50 million. Following the acquisition, Keeprz's 17 employees are expected to join Como's 100 in the latter's Nes Ziona offices.

Keeprz will improve Como's current solution for customer loyalty and small and medium-sized business apps, thereby reinforcing Como's dominance in the global market in general, and in Israel in particular. Keeprz's customers include Burger King, Coca Cola, Burgus Burger Bar, BMW, Cafe Joe, and others. Founded by CEO Liran Mayost, COO Yair Holtzer, CTO Danny Albocher, and head of marketing Orit Balicer Tsur Keeprz was supported from the beginning by a group of strategic investors, including Pierre Besnainou and Danny Hadar.

Commenting on the deal, Como CEO Ronen Shilo said, "We're continuing to invest in the company because we believe in our ability to create an Israeli company that will be a global leader, and we're proud to do this through local talent of Israeli technology." Shilo added, "Keeprz is now in the forefront of customer loyalty technology for businesses, and we believe that merging with it will allow us to preserve our leadership our dynamic sector."

Keeprz will be the second Israeli startup to be acquired by Como, the first being Wibiya for $45 million.

Como formerly dealt with toolbars, until it sold this business to Perion Network Ltd. (Nasdaq:PERI: TASE:PERI). In recent years, it has focused on apps. 1.5 million apps for small and medium-sized businesses have been developed through Como's service to date.

Published by Globes [online], Israel business news - www.globes-online.com - on July 16, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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