Company Closes Acquisition of Texas-Based Digital Marketing Solutions Provider
CloudCommerce, Inc., a leading provider of data-driven solutions (the “Company”), announced that it has acquired 100% of WebTegrity, Inc., a provider of enterprise digital marketing services, based in San Antonio, Texas.
WebTegrity, incorporated in 2012, serves clients such as Generations Federal Credit Union, University Health System, UTSA, Petco Foundation, and Animal Defense League.
WebTegrity’s founder and CEO, Kori Ashton, has been listed as one of seven women who run tech startups in San Antonio to watch. Ashton started her first company at the age of 12 and has pursued an entrepreneurial career path. With a degree in the arts, she brings more than fifteen years of experience as an online marketing specialist, graphic designer, and Web developer. As a sixth generation Texan, Ashton has participated as a keynote speaker at TEDx San Antonio, and trains and speaks at conferences across the United States.
The consideration for the acquisition of WebTegrity was paid in the form of ten thousand (10,000) shares of the Company’s Series E Preferred Stock, with a stated value of $100 per share. Each one (1) share of Series E Preferred Stock is convertible into two thousand (2,000) shares of the Company’s common stock.
This milestone marks the fourth transaction announced by the Company as part of its growth-by-acquisition strategy. The strategy is aimed at strengthening the Company’s position and footprint in the industry through the strategic acquisition of profitable solutions providers with strong management teams.
“WebTegrity brings additional digital strategy expertise to our company. Today, we proudly welcome Kori Ashton and the entire WebTegrity team to our rapidly growing family of digital experts. Kori is an industry-leading digital strategist that understands how to create solutions for her clients that lead to greater success in the marketplace. We anticipate a smooth integration, and look forward to mutual growth as we work together,” said Andrew Van Noy, CEO of the Company.
“The whole WebTegrity team is very excited about this new chapter in our growth. Our focus for the past five years has been providing our clients with incredible digital marketing and customer support. This merger means that we gain access to even more resources to fulfill just that,” said Ashton.
The Company intends to continue its growth by acquisition strategy by seeking out complementary companies to form a global family of digital services and solutions to help brands successfully conduct business in the cloud.