March 26, 2007 03:18 AM | Press Release
March 26, 2007—Boston, MA—Covington Associates today announced that it has acted as financial advisor to Cuesol, Inc., a provider of interactive shopping, marketing and self-service solutions for grocers, in connection with its merger with MobileLime®, the first mobile relationship marketing company. The merger will allow the companies to combine MobileLime’s mobile rewards and payment platform with Cuesol’s range of Web, kiosk and shopping cart solutions.
Founded in 1999, and headquartered in Boston, Cuesol is well known for its personal shopping solutions including a wireless cart-mounted touch screen browser, in-store kiosks, and Web applications and components. MobileLime mobile rewards platform weaves the mobile channel into the fabric of the shopping experience allowing retailers to build better relationships with their customers and increase loyalty, frequency and sales.
“MobileLime and Cuesol’s merger enables merchants, for the first time, to develop a relationship-based communications program that incorporates mobile rewards and interactivity,” said Jack Mark, founder, Cuesol.” By leveraging retail and cell phone-based technologies, the combined companies can bring a more robust shopping experience solution to market offering customers convenience and savings”. Robert Wesley will be the president and CEO of the new combined company.
Cuesol, Inc is the leading provider of unique applications that leverage customer purchase history to create an enriched shopping experience, and improve customer loyalty. Cuesol’s family of personal shopping solutions includes wireless cart-mounted solutions developed with IBM and Motorola, a deli queue management and self-service ordering solution, and an in-store traffic monitoring and alert system. Cuesol applications have been helping clients enhance the overall customer experience for 8 years. Its customers include grocers such as Stop & Shop, part of Dutch grocery giant Ahold, Giant Eagle, and Ukrop’s. Founded in the UK, the company moved its headquarters to Quincy, Massachusetts in 2001. Cuesol is a privately held company and can be found on the Web at www.cuesol.com.
About Covington Associates LLC
Covington Associates is a specialty investment banking firm founded in 1991 serving business service, consumer, industrial, healthcare and technology companies throughout the country. Focused on mergers and acquisitions, debt and equity capital raising, debt and equity restructuring, and strategic advisory assignments for middle market companies, Covington Associates has completed transactions ranging in value from $10 million to over $1 billion for both private and publicly traded companies. To learn more about Covington Associates, visit www.covingtonassociates.com.
CUESOL ACQUIRED BY MOBILELIME