HENDERSON, NV, Aug. 19, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Grove Inc. (the “Company” or “Grove”) (NASDAQ: GRVI), the Nevada based BRAND and CBD company, looking to add a key Technology Division to its strategic businesses, announced the signing of a Letter of Intent for the acquisition of Boca Raton, Florida based Interactive Offers. Interactive Offers provides programmatic advertising with its SAAS platform and has served the FinTech space with great success over the last several years. The SAAS platform allows for programmatic ad placement automatically on any partners’ sites from a simple dashboard.
The addition of Interactive Offers’ SAAS platform is expected to significantly improve Grove’s product sales and CBD Brand business in addition to providing a profitable, stand-alone technology division and in-house ad service platform. Interactive Offers’ current growing revenue stream includes dedicated emails, native, programmatic and display advertising across some of the largest publications and offers a one-stop shop advertising solution to Grove’s growing client base. The platform and advertising advantage Grove adds with this transaction gives it the ability to scale its most recent VitaMedica acquisition and any additional brands acquired going forward. The contemplated acquisition is expected to be completed within the next 30 days pending completion of due diligence and definitive agreements.
Allan Marshall, Chief Executive Officer of Grove, stated, “Interactive Offers has a brilliant platform, development team, and management. When it comes to SaaS, they check off every box, creating a streamlined process for advertisers and publishers alike. The technology is set up and designed for ease of use and efficiencies in deliverability and reporting across email, native ads, and display. It not only fills a void for our brands but gives all of our clients a unique ad platform that they can take advantage of immediately. With the new revenue