London, December 17, 2013: Ensygnia, the Onescan mobile payments company backed by Telefonica’s technology start-up accelerator Wayra, today announced that it had acquired Mustard Digital, and its subsidiary retail price drop site Snaptaps, in an all share deal for an undisclosed sum.
As a result of the transaction, Ensygnia plans to turn the Snaptaps site into a multi-brand showcase of household-name retailers for the Onescan mobile payments service.
Ensygnia co-founder and CEO Richard H Harris said: “This is a very significant and strategic move that gives us tremendous control of the next stage of our business growth. By integrating Onescan into our own retail sales platform, covering some 70 household name consumer retail brands, we gain a relationship with those brands and real world consumer experience and insight.
“It is a deal that takes both Snaptaps and Ensygnia Onescan to the next level,” Harris added.
Mustard Digital launched the Snaptaps service on the back of developing a proprietary platform for managing web-based alerts and notifications for its own clients.
Mustard Digital co-founder Bede Feltham said: “Snaptaps was conceived as an easy way to seek out bargains – it constantly monitors a wide range of popular sites to pick up price drops and alert shoppers to all the great deals on offer.
“We are already talking with the brands and our partners about how we can work together to integrate Onescan with Snaptaps so that their consumer customers could go from bargain-hunting to bargain-shopping with just one scan," Feltham added.
As part of the acquisition, Feltham becomes Ensygnia’s VP for Payments and Loyalty programmes while Mustard co-founder Ben Osborne continues as Technical Architect working alongside the Ensygnia engineering team to focus on developing the combined Snaptaps and Onescan proposition.
“This acquisition adds more brilliant people and complimentary technology to the Ensygnia proposition,” added Richard H Harris. “What’s more, working with Snaptaps’ existing customer base and technology platform will allow us to develop and enable Onescan solutions across a wide range of customer engagements from acquisition, through payments and onto loyalty programmes.”