AUSTRALIAN listed firm Tomizone Inc., a technology company partly owned by Januario Jesus Gregorio III, president of mass-housing builder 8990 Holdings Inc., has purchased Philippine-based Social Light Inc.
Tomizone will acquire all of Social Light’s issued capital, which serves many enterprise clients in the Philippines, through the issue of up to 24.5 million in ordinary shares at a notional issue price of 13.27 cents per Tomizone share.
“The purchase consideration will not contain any cash component,” it said. Tomizone said the acquisition of Social Light will accelerate its growth and foster a deep understanding of the Tomizone product suite and previously developed enterprise technology solutions focused on connectivity, analytics, in-venue engagement, retail technology and digital marketing.
“In anticipation of the acquisition formally completing, we have already started our technical cooperation and will shortly launch new products developed together with Social Light, further enhancing our software suite and our customers’ requirements,” Tomizone CEO Geoff Wanless said.
“Social Light’s suite of products and product road map are complementary to Tomizone products and customers.”
Social Light was formed in 2013 by Francis Simisim, cofounder of WhenInManila.com Blogapalooza; Annabelle Simisim, a former P&G global purchasing solutions manager; Franz Alfonso, founder of Glue Digital and cofounder of Ava.ph, venture-backed e-commerce site in the Philippines; and Erwin Lee, former Microsoft software engineer and founder of Glue Digital.
“We focus on solutions that help businesses become sustainable through repeat customer sales,” it said in its web site.
Among its local customers are UCC, Ateneo de Manila University, Tony Roma’s restaurant and Sky Cable.
Tomizone is a provider of connectivity, analytics and location-based services and software to enterprises, brands and public venues.
“The company’s mission is to connect its customers to consumers through meaningful digital experiences within the Internet of Things,” it said.