Fobi AI acquires EU-based Passworks
VANCOUVER, CANADA — Fobi AI, a Canadian artificial intelligence (AI) and data intelligence company, has completed the acquisition of Passworks SA, a digital wallet and mobile marketing company based in Europe.
The total purchase price for Passworks’ target shares was €500,000 (US$547,160), which Fobi paid by issuing 1.6 million common shares for $0.44.
Passworks’ major international clients include luxury fashion retailer Hugo Boss and digital advertising company Publicis.
“We at Passworks are very happy to join Fobi and be part of a larger organization with a clear focus on mobile wallet solutions, together with data and digital transformation. The synergies of the two companies will definitely strengthen Fobi’s position as a leader in the mobile wallet space,” said Passworks Chief Executive Officer Francisco Belo.
Founded in 2017, Fobi is a leading AI and data intelligence company across North America and Europe.
Related news
- Infobip, Google Cloud’s Dialogflow collaboration to improve customer satisfaction · 22 Nov 2022
- CCaaS market revenue to reach $15.6Bn by 2027 · 18 Aug 2022
- Infobip, BT collaborate to enhance CX in the UK · 3 Jun 2022
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
