eRecyclingCorps Acquires Flipswap Inc. to Expand Wireless Device Trade-In Solution Strategic acquisition extends instant, in-store credit trade-in platform to leading carriers and 15,000 major retailers worldwide
IRVING, Texas, May 7, 2012 /PRNewswire/ -- eRecyclingCorps (eRC), the leading provider of carrier-grade wireless device trade-in solutions, today announced that it has acquired Flipswap Inc., a manager of global consumer electronics buyback programs. With the acquisition, eRC expands operations to include five of the eight largest wireless carriers in North America and more than 15,000 retail locations, increasing eRC's projected annualized trade-in volume to more than six million wireless devices by year end.
"This acquisition will expand access to the leading device trade-in program in the world, while securing new talent and resources to power eRecyclingCorps' rapid growth," said David Edmondson, eRecyclingCorps CEO. "eRecyclingCorps has had a long-standing relationship with Flipswap, Inc., which brings valuable business assets to the company as well as a shared vision to reduce e-waste. It was a natural decision to join forces to make incentivized, instant, in-store wireless device trade-in as commonplace as trading in a used car."
As a result of the acquisition, eRC also acquired Flipswap's interest in Flipswap Services, LLC. eRC has assumed responsibility of Flipswap's trade-in programs and will continue to support Flipswap's and Flipswap Services' extensive roster of existing customers in the mobile industry. Several members of Flipswap's management team have joined eRC's executive team, including key senior-level positions in finance and sales. Future development will focus on expanding instant, in-store credit to new and existing customers to drive high-volume device renewal and boost revenues for carriers and retailers, worldwide.
"eRecyclingCorps has cracked the code on giving consumers what they want— instant in-store credit that can be applied to new phones or accessories right away," said Grant Burton, SVP of Finance at eRecyclingCorps and former Flipswap CFO. "Flipswap's carrier and retail partners will benefit from expanded access to this key incentive to deepen customer relationships and improve the key metrics which drive their business performance."
eRC's acquisition of Flipswap builds on its recent expansion to eight European countries and the acquisition of Zone Impact, a leading European provider of wireless device trade-in solutions.
eRC's scalable platform integrates directly into carrier and retailer point-of-sale systems to offer instant evaluations of retired phones for credit. Retired devices are wiped clean of all personal data and renewed to stringent standards for resale in the U.S. and in emerging markets, offering high-quality technology at affordable prices to bridge the digital divide.
eRecyclingCorps (eRC) is the world's leading provider of carrier-grade wireless device trade-in solutions. Founded in 2009 to provide a scalable model to repurpose and reuse perceptually obsolete devices, eRC partners with global wireless carriers and retailers to provide instant, in-store trade-in credit. eRC renews devices to stringent certification standards and sells them to consumers in developing countries at an affordable price thereby bridging the digital divide. eRC will complete more than six million wireless trade-ins worldwide in 2012. With its recent purchases of Zone Impact and Flipswap, Inc., eRC now operates in ten countries worldwide and is a founding member of the Device Renewal Forum. For more information, please visit erecyclingcorps.com.
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