Brax.io (“Brax”) is Wishpond’s third acquisition this year and represents a significant opportunity to expand Wishpond’s technology platform into the adjacent market for providing digital ad management solutions.
Kevin Ho, Wishpond’s former Vice President of Marketing, promoted to General Manager of Brax to lead the future growth of this new business unit.
Wishpond Technologies Ltd., a provider of marketing-focused online business solutions, is pleased to announce that it has completed its previously announced acquisition of certain assets and specific liabilities from AtlasMind Inc. (d/b/a) Brax.io (“Brax“). Based out of New York, Brax is a rapidly growing and profitable technology company that offers a robust advertising platform for the management of a company’s digital ads across multiple sources. Brax is a Software-as-a-Service (SaaS) business that is expected to be immediately accretive to Wishpond, having generated revenue of approximately US$1.5 million over the past 12 months, with healthy gross margins of 80% and EBITDA margins exceeding 15%.
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Brax will be led by Wishpond’s former Vice President of Marketing, Kevin Ho, who joined Wishpond in 2015 and has since held various roles in sales, marketing and customer success. As Wishpond’s Vice President of Marketing, Kevin was previously responsible for all aspects of the Company’s growth including lead generation, strategic partnerships and public relations. Brax will operationally function as a separate business unit while maximizing synergies between Wishpond and Brax, including capitalizing on upsell and cross-sell opportunities.
Ali Tajskandar, Chairman and CEO of Wishpond commented, “We are pleased to welcome the Brax team of advertising experts to the Wishpond family. Brax broadens the portfolio of products and services we can offer to small and medium sized businesses and offers tremendous cross-selling opportunities for ad management solutions into our existing customer base. In addition, I am pleased to congratulate Kevin on his promotion to lead this newly acquired business. I am confident that Kevin’s past experience and management skills in sales and marketing make him an ideal leader for the Brax business unit.”
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