STRATEGIC ACQUISITION WILL ADD SIGNIFICANT VALUE TO THE COMPANY WITH A PROFITABLE AND SCALABLE NATIONAL SALES ORGANIZATION
Scottsdale, Arizona, January 18, 2017 – Digital Caddies, Inc. (OTCPK: CADY) (the “Company”), is pleased to announce they have entered into a definitive Stock Purchase Agreement (the “Agreement”) to acquire 100% of the issued and outstanding stock of Adzzup, Inc., a privately held Delaware corporation (“Adzzup”), in exchange for stock in the Company.
Adzzup specializes in selling local digital advertising and providing related digital advertising services to small and medium sized businesses across the United States and Canada. The company has approximately 45 employees, including 23 in sales and has shown steady, profitable growth. Adzzup owns and utilizes a proprietary, all in one, digital marketing platform, that provides their customers total control over all their digital marketing needs for a fraction of the typical cost.
The Agreement is currently expected to close by the end of the quarter subject to certain terms and conditions, the completion of due-diligence and obtaining the required shareholder and regulatory approvals. Upon closing, of the transaction Adzzup will become a wholly owned subsidiary of the Company.
“Adzzup brings a fully operating sales organization, a large portfolio of existing clients & partnerships and new distribution relationships to Digital Caddies” said Brad Nightingale, CEO of Digital Caddies. “The combined company’s complementary skills and assets will offer tremendous value to our golf course clients as well as advertisers, enabling us to accelerate the growth of The Players Network and revenue as we continue to innovate and shape this industry for years to come.”
“Digital Caddies’ Players Network provides us the ability to grow our product offering to our new and existing clients across the country and thus overall revenue,” said Jeff Hosek, CEO, Adzzup. “This strategic acquisition positions both companies to move to the next level individually but as a combined entity it’s a situation where one plus one likely equals four.”
Brad Nightingale went on to say, “Adzzup’s existing revenue and profit provides clear visibility to break-even operation and as the revenue mix begins to include more direct advertising sales for The Player’s Network, revenue growth should accelerate with improving overall profit margins”.
About Digital Caddies
Digital Caddies’ is one of the first cloud based content and media solutions for golf courses and golfers that provides unique access to golfers via an interactive tablet mounted in golf carts on golf courses. The system is collectively referred to as The Player’s Network and once a golf course is equipped, golfers enjoy a variety of useful applications and services, including GPS-based course navigation and aerial fairway and green views with accurate yardages to landmarks. The tablets install easily on any kind of golf cart and connect wirelessly to the Web through Sprint’s nationwide wireless network, providing the golf course a broad portfolio of real-time course management tools via GPS-based cart tracking and communications. The network of always on, always connected tablets also provide advertisers the opportunity to market and interact with people in ways that have not been possible before.
Digital Caddies is committed to ongoing innovation that will deliver valuable content to golfers, enhance golf course operations and allow marketers to reach a highly sought-after and lucrative demographic. For more information about Digital Caddies, please visit www.digitalcaddies.net
Founded in 2006, Adzzup is an internet marketing and advertising sales organization based Phoenix, Arizona who is focussed on providing advertising services to small and medium sized businesses across the nation trying to break into the huge internet/online marketing industry. They service customers all over the United States and Canada. Adzzup has developed online applications that makes creating content and marketing for companies online efficient and cost effective, providing proven returns on investment. For more information about Adzzup please visit http://adzzup.com
Investor Contact: Mike Kordysz
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Digital Caddies, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Digital Caddies, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Digital Caddies, Inc.’s filings with the Securities and Exchange Commission.