Peak Positioning Shares Surge on Acquisition News

Peak Positioning Shares Surge on Acquisition News

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, March 26, 2014

Interconnectivity between websites and platforms is slowly becoming standard issue in today’s digital world. Years ago, it was hypothesized that one day people won’t even log into websites anymore, they will simply “login to the Web” and everything will be at their fingertips. Well, we’re not sure anything like that will ever happen, or even that it should be considered given the plethora of high-profile data breaches, but with some simple permissions plenty of websites and applications are now spreading data with the click of a mouse. Peak Positioning Technologies Inc. (TSX-Venture:PKK), a Montreal-based software developer for mobile devices, and applications provider to mobile networks, has developed the AiNI™ Mobile Cloud Platform, which delivers a server application on its Mobile Network Operator’s server and a device agent to enhance a mobile device’s operating system.


The enhanced features include things such as utilization of Smart-Connect™ technology in an instant messaging app that permits AiNi™ subscribers to use a single IM app to communicate with people using other popular messaging apps, a social media app and a data synchronization function that aggregates and syncs data from different devices connected to the network.

Honestly, that’s all good, but other companies have similar offerings, positioning Peak in a competitive space. The company said on Wednesday that it entered in an agreement to acquire substantially all of the assets associated with the Quickable.com mobile e-commerce platform from its creator Quick Technologies LLC. The acquisition diversifies and distinguishes, as well as provides a revenue stream from the established Quickables.com platform.

Quickables.com is a mobile platform and marketplace where smartphone users can sell virtually any product with relative ease. Photos of the item can be taken with the phone and descriptions can either be manually entered or a bar code can be scanned on the item, instantly adding the description to the post. Once entered, the item can be published to the Quickable digital marketplace, or social media sites like Twitter (NYSE:TWTR) and Facebook (NASDAQ:FB), and even other online marketplaces like Craigslist and Ebay (NYSE:EBAY).

Quickable handles all of the postings in different locations and then follows through with connecting buyers to sellers to negotiate the sale price through its instant messaging system. All portions of the transaction from listing to sale are documented and recorded through the IM system.

Through February, the Quickable platform currently had more than 115,000 registered subscribers accounting for $22 million in gross merchandise value. The website has everything from lip gloss to cars to houses for sale on it.

Peak says that it has completed a considerable due diligence period, including hiring an independent consulting firm to conduct a thorough review of Quickable and has now agreed to pay a total consideration of $2.5 million in cash and shares for the business.

"We've been looking at the Quickable platform for a while now as a potential strategic acquisition. This platform has great potential today, and we strongly believe that we can leverage our existing technologies and relationships to turn it into a significant contributor to the Company's bottom line; and create significant value for our shareholders," commented David Kugler, Lead Director of Peak, in a prepared statement today.

Peak raised about $570,000 as part of a $2 million private placement announced two weeks ago. The company expects to complete the remainder of the raise and use part of the funds for the transaction.

Investors are buying into the news on Wednesday. Shares have been in a long-term downtrend since early in 2011 when shares were trading as high as 20 cents each to sink as low as 1.5 cents in February. The acquisition has breathed life back into the stock to erase a chunk of those losses, with the stock climbing 120 percent to 5.5 cents on some of the best trading volume ever as almost 3 million shares have changed hands as the day winds towards a close.

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