RBID Gains Leverage August 28, 2008 Strategic relationship includes acquisition of up to 25 percent of Leverage's capital stock
By Jeanie Casison
Strength in partnership is the foundation of a newly formed deal between RBID.com, Inc. and Leverage Inc. The Newport Beach, Calif.-based financial IT and marketing company RBID joined forces with the Irvine, Calif.-based marketing technology company Leverage, partly of because of its proven track record as a gift card services provider. Under the new agreement, RBID has secured the right to acquire up to 25 percent of Leverage's capital stock.
"I am very excited about our deal with Leverage Inc. The company is fast emerging as a market leader in providing gift card services, including selling gift cards on behalf of major retailers, helping consumers track their gift card balances, and providing Leverage members with a community where they can swap their unwanted gift cards. I believe an ownership interest in Leverage will prove an extremely lucrative transaction for RBID and its shareholders," said Alan Rothman, RBID CEO in a statement.
Leverage caught the attention of RBID leadership because of its innovative loyalty management application that allows for the creation of highly targeted offers and savings for its customers.
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