Alltemp, Inc., a provider of marketing platforms, has acquired Digi Messaging & Advertising Inc. in a stock exchange deal.
In the purchase completed Monday, Alltemp acquired all of Digi’s outstanding shares stock in exchange for 600,000 shares of Altemp’s Series D stock. Digi shareholders now own 73.7% of the total shares of Alltemp.
In addition, Alltemp’s subsidiary, CSES Group, was spun out in return for the cancellation of roughly 54 million common shares held by former Alltemp management and shareholders. CSES owns all rights and title to Alltemp’s refrigerant technology.
Edward C. DeFeudis will serve as CEO and Ben HaAnsel will remain on the board of directors.
Through Digi, Alltemp owns multiple digital platforms for email, SMS, push, short links and other communications.
In addition, Digi is helping firms with SEO, content marketing and online advertising.
The combined firms plan to launch a consumer-facing SaaS platform resulting from the integration of Digi’s digital marketing tools in Q1 2022.
Alltemp hopes to win "consumer mindshare in a highly-fragmented market," DeFeudis says. “Further, and in parallel to the platform development and launch," he adds, "we plan to build and acquire additional revenue generating assets to create value and stability as an early-stage company.”