11 Sep 2014 07:00
For Immediate Release | 11 September 2014 |
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MOPOWERED GROUP PLC
("MoPowered" or "the Group")
MOPOWERED AND TIME INC. UK ANNOUNCE NEW PARTNERSHIP
MoPowered (AIM: MPOW), the mobile commerce specialist, and Time Inc. UK, Britain's leading publisher of print and digital magazine content, today announce a partnership, which will see Time Inc. UK using MoPowered's mobile commerce technology for its clients. The partnership is exclusive among UK magazine publishers.
The partnership will allow Time Inc. UK to offer the technology to its large base of businesses that advertise through Time Inc. UK's portfolio of specialist brands including Yachting World, Country Life, Decanter and Horse & Hound. The mobile commerce solution will be offered as part of a wider suite of advertising and marketing services.
As more and more web-traffic originate from mobile and tablet devices, both companies should benefit from additional revenues and improved client engagement. MoPowered's technology allows automated development of mobile sites rather than custom deployment, with the corresponding time and cost advantages.
Dominic Keen, CEO of MoPowered, said: "MoPowered very much looks forward to working with Time Inc. UK to enable its clients to make gains from mobile commerce. This partnership represents an important development for MoPowered as we scale up our business by introducing high profile partners who provide access to large numbers of new users of our technology. Collaborations such as these will help enable MoPowered to achieve its growth trajectory through 2015 and beyond."
Justin Stark, commercial director for specialist brands at Time Inc. UK, said: "Time Inc. UK's new performance-based mobile commerce solution has the potential to greatly improve sales for our clients and many have yet to take advantage of this important and fast growing channel. This new service represents another step in our commitment to delivering a broad range of new and valuable ways of helping our clients' businesses grow."
Press enquiries:
MoPowered: | 020 3242 0515 |
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Dominic Keen |
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| N+1 Singer: | 020 7496 3000 | ||
| Gillian Martin Shaun Dobson Emily Watts | |||
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| Buchanan: | 020 7466 5000 | ||
| Charles Ryland | |||
| Sophie McNulty | |||
| Clare Akhurst |
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NOTES TO EDITORS
MoPowered is a 'Software-as-a-Service' ('SaaS') platform, launched in March 2012, which works with businesses of all sizes, to automate websites and enable mobile commerce. Key distribution partnerships with PayPal, WorldPay and MasterCard enable the Group to access the majority of UK merchants.
The software platform allows automated development of mobile sites rather than custom deployment with the corresponding time and cost advantages. The commercial model is predominantly based on long-term contracted, recurrent revenues.
MoPowered is well positioned to capitalise on the new types of shopping opportunities created by mobile devices. Retailers face significant challenges and are therefore outsourcing to expert mobile partners such as MoPowered. Management believes that half of the e-commerce market has online sales of less than £20m per annum and SaaS solutions are likely to be the best economic alternative for these merchants.