SpendSmart Networks has purchased the e-commerce solutions division of TechXpress and plans to integrate the company's online and mobile services with its existing loyalty program offerings.
SpendSmart paid $1.2 million in cash to purchase this unit. The transaction also included acquiring some of TechXPress' stock, the San Luis Obispo, Calif.-based SpendSmart said in a Sept. 22 press release.
The e-commerce unit of TechXpress provides merchants with personalized website and mobile app development services, as well as Web marketing tools and analytics. This business currently services approximately 50 national merchants with millions of online consumers, according to the release.
"This division of TechXpress has an extensive client base and years of experience providing premier Web/e-commerce design and services, primarily to consumer goods manufacturers and resellers," Alex Minicucci, chief executive of SpendSmart, said in the release. "Combining these capabilities with our mobile customer loyalty system yields a more comprehensive suite of digital engagement solutions, including strategic marketing services that leverage our data collection and analytics."
SpendSmart Networks rebranded in June to place more emphasis on its digital customer loyalty initiatives. Previously, the company was called SpendSmart Payments Co. The company has changed its name four times in five years; previously, it has used the names BillMyParents Inc., SocialWise Inc. and IdeaEdge Inc.