Gruden to list after reverse takeover of Exoma Energy
- THE AUSTRALIAN
- JANUARY 26, 2016 12:00AM
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- David Swan
Reporter
MobileDen managing director Todd Trevillion
Digital marketing and app development firm Gruden will list on the ASX as early as this week through a reverse takeover of Exoma Energy, in a deal worth $7 million.
Gruden itself is a collection of specialist technology companies with offices in Sydney, China and Malaysia and its self-proclaimed “jewel in the crown” is MobileDen, a mobile payments platform used by the likes of Starbucks, Woolworths, Red Rooster, Oporto and Donut King. The federal and NSW state governments are also clients.
MobileDen offers a number of white-labelled mobile services such as digital loyalty, mobile ordering, digital wallets and targeted advertising as consumers continue to ditch physical cards and replace them with more convenient mobile apps. It takes a clip of every transaction and stores pay a monthly licensing fee.
MobileDen managing director Todd Trevillion told
The Australian that unlike other ASX-listed fintech companies and reverse takeovers, Gruden had no requirement to raise funds, given Exoma was well capitalised with some $7m in cash.
He said the company was now planning an overseas push. It was on the cusp of appointing a major reseller in China and was evaluating a few countries in Latin America to enter. The firm had already been in China for about 8 years — Gruden itself is about 20 years old — and was now looking to cement its position in Asia.
“The mobile ecosystem is estimated to be worth $1.5 trillion worldwide, that’s a big opportunity and we’re very nicely placed,” Mr Trevillion said. “There aren’t many companies who have this very unique offer such a big breadth of capabilities and opportunities for brands. This will allow us to scale and move to new markets quite quickly.”
Especially with the emergence of Apple Pay and mobile wallets, these trends are all working very nicely for us.”
