Both companies will continue offering their services and products under their existing brands that currently service over 2,000 retail locations across the United States, Canada and Mexico. The merger further combines strong operating, sales, and development personnel. Evlocity will continue to maintain its strong year-over-year profitability with significantly increased market opportunities within its first year of combined operations.
Mike Gill, founder of Fusion and CEO of the newly formed Evlocity, comments, "We've worked with OnLoyalty for some time and as our partnership grew, we saw a perfect opportunity for both companies. Our merger will enable us to really scale our growth and pursue more retail markets by offering a complete cloud service offering while providing affordable subscription prices with enterprise level functionality to our customers."
Unlike other point-of-sale systems, the new Evlocity cloud-based product offering will enable a retailer to scale more efficiently and cost-effectively with their back office and integrated consumer engagement systems as their organization grows. Under one end-to-end service relationship and offering hands on start-to-finish implementation and support management, Evlocity is able to service retailers more effectively while significantly enhancing the efficiency of retailers using its products.
Ricardo Rosado, founder of OnLoyalty and Chief Technology Architect of the newly formed Evlocity notes, "OnLoyalty and Fusion is a great combination of talent and resources. We are already underway with several exciting new cloud-based initiatives. We enthusiastically expect to announce its commercialization this year."
Malidan Capital Group (www.malidancapital.com) provided corporate structuring, financing, and consulting services with regard to the Fusion-OnLoyalty merger and has been engaged by Evlocity to continue providing these services and assist in the company's strategic initiatives on an on-going basis.
This press release contains forward-looking statements. Any statements contained herein which do not describe historical facts, including but not limited to, statements regarding: (i) our business; (ii) expectations about our business and future of its market; (iii) expectations regarding future intentions we plan on undertaking as part of our business plan; (iv) beliefs about the consumer adoption of our industry and our goal of bringing new innovative products to consumers, are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially. We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
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SOURCE Fusion RMS