Intend to Pursue Partnership to Enhance Technologies and Growth
Mobiquity Technologies, Inc., a mobile location data intelligence company, and Gopher Protocol Inc., a company specializing in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies, including a global platform with both mobile and fixed solutions, announced they have closed a share exchange agreement providing for ownership in each of the respective companies and now expect to pursue a strategic partnership with the goal of enhancing each other’s technologies, growth and sales.
With numerous opportunities for working together, the parties intend to develop a strategic partnership. The first steps in moving towards a deeper partnership will initiate with a pilot project, which is expected to include the integration of the Mobiquity Passage platform into the ECS Prepaid Platform. The ECS Prepaid Platform booked 1,134,725 transactions from 9,855 terminals amounting to gross revenue of approximately $13.4 million during the three-month period ending June 30, 2018. During the pilot, Mobiquity will also assist in marketing the GopherInsight Microchips technology by utilizing the Mobiquity ADvantage platform and utilizing Mobiquity’s SDK inside Gopher affiliated apps for enhanced marketing and location services. The parties will also utilize each company’s resources and people on future products and joint ventures, which for example, may involve Mobiquity promoting and distributing Gopher’s GuardianPack mobile applications through its Passage and ADvantage platforms.
“The synergies between our two companies for location services and marketing is what makes this planned strategic partnership unique and we expect will prove to be advantageous for both companies. We see our teams working together on numerous current and future projects,” said Douglas Davis, Gopher’s CEO.
Dean Julia, Mobiquity Technologies’ CEO, said “After a long period of due diligence and negotiations, we see this strategic partnership as a near and long-term growth opportunity for both companies. We also look forward to working more closely with the entire Gopher team.”
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