Zoompass Holdings Inc. Acquires Blockgration Global Corp.
Toronto, Ontario--(Newsfile Corp. - April 23, 2020) - Zoompass Holdings Inc. (OTCQB: ZPAS) would like to announce the acquisition of Blockgration Global Corporation (BGC) and its subsidiaries, a leader in SaaS and software technology focused on blockchain and payment solutions.
With this acquisition, Zoompass will continue to transform itself into a technology leader, leveraging its expanding customer base in India and globally, cross selling into new markets and to existing customers. The company's mission is to build, acquire, and partner with software companies, supporting them with technical, financial, and operational solutions and delivering advanced technology to growing organizations internationally.
As part of this transaction, Zoompass will acquire controlling interest in BGC's growing subsidies:
- MSS Payments - An international financial services technology company based in India with a focus on Digital Wallet deployments, Multi-Currency, Multi-Processor Prepaid Card Platform and Corporate Domestic Money Transfer. The company's aim is to make online transactions simpler and more secure for all.
- BuyUcoin - As one of the oldest cryptocurrency exchange companies in India, BuyUcoin's user friendly interface and myriad of features and products allow customers to easily and safely buy, sell, trade and store cryptocurrency. With an active customer base of 250,000 users, the company plans to sign agreements to integrate into multiple wallets in India.
- Zuum Global Services - Is a leader in delivering high-traffic mobile apps, performance driven web-based applications, cloud suites and globally distributed software systems to customers across the globe.
With a combined total of approximately 125 employees across four countries, Zoompass is quickly becoming a global player in advanced technology for the financial and consumer services industry.
"The Zoompass-Blockgration partnership is a powerful combination. Blockgration's experience in the digital world, its deep roots in software solutions and collaborative approach is uniquely complimentary to how Zoompass operates. With these combined entities, we believe this will allow us to grow, becoming global innovators in the SaaS world," says Manny Bettencourt, CEO of Zoompass Holdings Inc.
"Partnering with Zoompass will allow us to provide the very best business user experience across our digital platforms," says David Ralph Mackereth, EVP at Blockgration. "Together, working as one team, we will unlock the full potential of digital payments technologies and place our clients on the path for success."
About Blockgration: BGC is an established Canadian-based company that provides a one-stop multi-currency digital wallet platform and blockchain centric technology and payment solutions. BGC connects blockchain platforms with payment ecosystems and traditional banking and provides our clients and their consumers with seamless integrated services such as digital assets trading, international money transfer, bill payments, instore and online merchant payments along with other value-added services. Visit blockgrationglobal.com for more information.
About Zoompass: Zoompass is a global innovator in the SaaS world, focused on next generation web-based technologies and software solutions for both private and public sectors. Our services span from small businesses to large enterprises and together, we build, acquire, and partner to deliver to our clients the best technical and operation platforms and solutions available in the marketplace.
Zoompass Safe Harbor Statement
Certain statements contained within this release are considered to be forward-looking under the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties including, but not limited to, the risk that any projections or guidance, including revenues, margins, earnings, or any other financial results are not realized, the impact of changes in tariffs, adverse changes in the global economic conditions, significant volume reductions from key contract customers, financial stability of key customers and suppliers, and availability or cost of raw materials. Forward-looking statements can often be identified by words such as "anticipates, " "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expression, and variations or negatives of these words. These forward-looking statements are not guaranteeing of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially and adversely from those expressed in any forward-looking statement. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of Zoompass are contained in the Company's Form 10-k filing for the fiscal year ending in December 31, 2020, and other filings with the Securities and Exchange Commission.
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