Israeli DIY website company Wix.com Ltd. (Nasdaq: WIX) has entered into an agreement to acquire flok, a Tel Aviv-based customer loyalty and engagement platform. flok's solutions are designed to increase customer value, generate organic referrals and boost small and medium businesses' online presence and reputation. The move supports Wix's strategic plan to further increase its portfolio of business technology solutions to give small and medium businesses easy ways to engage and reward their customers.
Terms of the acquisition were not disclosed although Wix said that the acquisition is not expected to have a material impact on Wix's non-GAAP operating results. flok has raised $19 million since it was founded,
Wix president and COO Nir Zohar said, "flok is an impressive, fast-growing company with an outstanding team and a deep understanding of mobile CRM development. Their product expertise and intimate knowledge of the local business sector will notably complement our strategy of providing SMBs with the tools they need to grow their business - from creating a stunning website to engaging in meaningful customer interactions."
flok cofounder and CEO Ido Gaver said, "We founded flok with the goal of helping real world business effectively use digital and mobile to increase customer loyalty. By becoming a part of the Wix team we can take our technology to new heights and do even more to empower business owners."
Published by Globes [online], Israel business news - www.globes-online.com - on January 22, 2017
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