The all-cash purchase accelerates SweetIQ’s ongoing expansion in the US market; significantly increasing its market share and solidifying its presence as a leader in the local marketing industry. SweetIQ has also opened a new office in Irvine, California to accommodate its rapidly growing US customer base, which includes their newly acquired customers from Connectivity. The company is adding 30 additional national and inside sales reps to support its US market growth.
“With this acquisition, we are expanding our position as a leader in the local marketing industry, giving us the opportunity to export our expertise to other markets,” said Mohannad El-Barachi, co-founder and CEO, SweetIQ. “We are looking forward to working with the clients that have come to us from Connectivity and improve their local performance.”
“After receiving multiple offers it became clear very quickly that the SweetIQ platform, service, and product vision are second to none,” said Emad Fanous, co-founder and COO, Connectivity. “Our clients’ transition to the SweetIQ platform has been seamless, and the company is well positioned to become a key player in the local marketing space.
This acquisition speaks to a growing shift in the local marketing industry toward complex, analytics-driven products that allow brands to better connect with hyper-local consumers. A competitive market environment is pushing national brands and agencies to move beyond basic listings products in an effort to drive higher performance from their local marketing initiatives.
“SweetIQ is well-positioned to maneuver these industry shifts, and this acquisition is indicative of our ability to anticipate what our clients need, both now and in the future” said El-Barachi. “We are reviewing several other expansion opportunities and hope to make additional announcements soon.”
About SweetIQ
A leader in local marketing, SweetIQ powers over 200 Fortune 500 brands and marketing agencies across North America. The company helps digital marketing teams understand the performance of their physical stores online, powering them with the tools they need to generate and execute local marketing campaigns, and measure their offline, in-store impact. Founded in 2010, the company is headquartered in Montreal, Canada, with additional offices in Southern California. Read more at sweetiq.com
Contacts
SweetiQ
Amanda Ierfino, 1-514-461-3527
Marketing Coordinator, Social and PR,
[email protected]
