On Friday, Digagogo Ventures Corp. announced that they completed the acquisition of the DogoPay software technology from Banyan Tech Ventures Inc. DogoPay is a versatile e-commerce platform. It allows users to instantly track and manage purchases and sales and if chosen, collect and redeem points. The DogoNet users will have access to e-commerce management using an “e-wallet.” Transactions will complete with speed, reliability and security. Digagogo is a provider of information and communications technology.
On July 5, 2011, Digagogo Ventures Corp., via their wholly owned subsidiary, Impact Technologies Inc., closed on an Asset Purchase Agreement with Banyan. With this agreement, Digagogo acquired all of Banyan’s assets and intellectual property pertaining to the DogoPay software, in exchange for $250,000 cash and 500,000 shares of Digagogo’s common stock.
Digagogo Chief Technology Officer, Mr. Ken Williams, commented, “The acquisition of the software will accelerate the full vision of DogoPay to be an alternate mobile payment between households and businesses. According to Gartner, Inc., worldwide mobile payment users will surpass 141.1 million in 2011 with mobile payment volume forecasted to be $86.1 billion. This software also enables pre-paid virtual card architecture giving every business its own mobile loyalty virtual card. This is very exciting to make DogoPay a unique payment option.”
Digagogo Chief Executive Officer, Mr. Fernando Londe, commented, “This latest acquisition completes all the base technology Digagogo requires to complete its end-to-end vision of DogoNet, DogoSearch and DogoPay. Digagogo is now strategically positioned to execute on its business plan. It will empower local businesses to market directly in real-time to local households and close the loop with payment to capture and contain transactions within the local economy, embracing an economically sustainable local community.”
Headquartered in Detroit, Michigan, Digagogo Ventures Corp. is developing a digital sales and distribution network. The design of this is to connect households together and enable individuals to buy or sell items within a local community. The Company believes that the achievement of this can come about through harnessing the power of local group buying and instantaneous knowledge of supply and demand within that community.
For more information visit: www.digagogo.net
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