Fobi AI Inc announced it has completed the integration of Passcreator, a German wallet pass software company that offers clients a software as a service solution for mobile marketing.
The acquisition, which was first announced in March 2021, gives Fobi a significant foothold in the North American wallet pass market.
With the Passcreator website now integrated into the Fobi website, the company said it anticipates record revenue growth in the coming quarters.
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Fobi told shareholders that the firm is in negotiations with three large insurance companies that could close in the third- and fourth-quarter of 2021.
Passcreator is used by some of the world’s largest companies and has customers in 42 countries around the world, including three of the 10 largest global car companies, Fobi said. Passcreator has over 6,000 active campaigns and issued over 14 million wallet passes in 2020.
In addition, Fobi said it had released its new Smart Scan application, which will be used by customers to validate wallet passes using Fobi’s proprietary Smart Tap devices at events and venues.
In a release, Fobi cited statistics that estimate the mobile wallet market size in North America will grow from $23 billion in 2019 to exceed $80 billion by 2026.
“As a result of the final completion of the Passcreator acquisition and integration and with today’s launch of our new smart scan app, Fobi is now positioned as one of the leading edge global mobile wallet companies,” Fobi CEO Rob Anson said in a statement. “We look forward to delivering a fully integrated product offering to new as well as existing clientele of both Passcreator and Fobi.”
Vancouver-based Fobi is a data intelligence company that helps companies turn real-time data into actionable insights and personalized customer engagement.
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