Accredited Solutions, Inc. (OTC: ASII), through its subsidiary Diamond Creek Water, has announced the acquisition of GlobeTopper, a digital gift card company with a robust annual revenue of $37 million and a presence in 65 countries. This move underscores the growing shift from physical to digital gift cards, with GlobeTopper serving over 2,700 brands, including major names like Amazon, Target, and Starbucks. Eduardo Brito, CEO of Accredited Solutions, praised GlobeTopper as a 'digital gift card powerhouse,' capable of managing large-scale distributions for corporations worldwide.
The acquisition is significant for investors, reflecting GlobeTopper's established success and the expanding digital gift card market. Craig Span, CEO of GlobeTopper, noted the increasing transaction volume, attributing it to the industry's shift towards digital solutions. A notable example of GlobeTopper's efficiency is its ability to distribute holiday gift cards to 10,000 employees across 12 countries in less than a day for a Fortune 500 company, a task that previously took weeks with physical cards.
Looking forward, GlobeTopper plans to expand its brand partnerships, enhance its market presence, and introduce new features to attract larger corporate clients. The company's commitment to bi-weekly updates on business growth aims to maintain transparency with investors and stakeholders. The digital gift card market's growth, driven by the transition from physical to digital rewards, presents ample opportunities for GlobeTopper to leverage its global reach and technological capabilities.
For Accredited Solutions, the acquisition aligns with its strategy of investing in technology companies with synergistic potential, aiming to foster a portfolio that can collectively accelerate growth. GlobeTopper's competitive edge lies in its ability to efficiently process large volumes of transactions across multiple countries, making it an attractive option for multinational corporations. As the holiday season approaches, industry observers are keen to see how GlobeTopper will capitalize on the increased demand for digital gift cards, further solidifying its position in the market.
