Mobile technology company and full-service mobile marketing agency Singlepoint continues to aggressively harvest growth through sales, strategic mergers, and well-branded service offerings in a market that is primed for exponential growth.
Earlier this month, Singlepoint finalized its acquisition of certain assets of payment gateway services company Six Sigma Services, Inc. (Sigma), including $1,137,123 year-to-date revenues, contracts, and intellectual property. In return, Sigma received 4 million restricted shares of Singlepoint.
Alongside revenue benchmarks to be met by Sigma, the company has the rights to an additional 16 million restricted shares of Singlepoint common stock to be issued in tranches. Benchmark figures to be reached by Sigma include $500,000, $750,000, $1 million and $2 million, derived from revenues earned by assets included in the acquisition.
Acquiring these Sigma assets and contracts means almost immediate added revenues for Singlepoint and also gives the company additional access to the global mobile payments market. As Singlepoint serves a strong and growing sector in the payments industry, the company is confident this agreement with Sigma will add significantly to its bottom line. It is anticipated that Singlepoint will generate as much as $1 million or more in additional revenues by the end of 2014’s first quarter.
Leading global information technology research and advisory company Gartner, Inc. forecasts that worldwide mobile payment transaction values will reach $235.4 billion this year, representing a 44 percent increase from 2012 values of $163.1 billion. The number of mobile payment users throughout the world is projected to reach 245.2 million this year, which is an increase from 200.8 million in 2012. Gartner predicts the global mobile transaction market will be worth $721 billion by 2017. As Singlepoint increases its presence in this burgeoning market, the company looks forward to updating shareholders with more positive developments going forward.
For more information about Singlepoint, visit www.singlepoint.com
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