PDI Technologies Strengthens Digital Connection via P97 Networks
PDI Technologies Expands Its Digital Engagement Ecosystem
ATLANTA — PDI Technologies, a prominent leader providing advanced solutions for the convenience retail and petroleum wholesale sectors, has announced a significant acquisition of P97 Networks, LLC. This expansion aims to enhance digital engagement and payment capabilities throughout the retail landscape.
Understanding P97 Networks' Contributions
P97 Networks, founded in Houston, has garnered a strong reputation as a mobile commerce and digital marketing platform provider, primarily serving the convenience retail, fuel, and automotive markets. The platform is a cloud-based solution that empowers brands to securely connect with consumers through mobile devices.
Industry Adoption and Innovation
Major fuel brands, such as CITGO Petroleum, ExxonMobil, and Shell, have integrated the P97 platform into their Mobile Payment Processing Applications (MPPA). Beyond fuel retailing, P97 is reinventing aspects of transportation with solutions aimed at fleet management, connected cars, and even electric vehicle charging infrastructure.
Visionary Leadership and Future Goals
Donald Frieden, CEO and Founder of P97 Networks, expressed enthusiasm about the acquisition. He stated, "We’ve worked to evolve how consumers interact with brands through an engaging, data-driven platform. Our union with PDI marks the beginning of an exciting journey to broaden our reach across the transportation network."
Investment and Expansion Plans for P97
PDI Technologies plans to significantly invest in enhancing the P97 platform. This initiative aims to further develop its features, creating an omnichannel consumer experience that caters to an expanding array of connected devices, including wearable technologies and vehicle infotainment systems.
Enhancing Customer Engagement
According to Matt Andrews, Executive Vice President of Site Solutions at PDI Technologies, the acquisition of P97 represents an important step in enriching the customer experience. He noted, "The innovative solutions that P97 has developed over the last decade complement and augment our existing offerings. Together, we can facilitate deeply integrated experiences that enhance customer journeys through mobile app engagement, loyalty programs, and payment solutions.”
Complementary Acquisitions and Growth Strategy
The acquisition of P97 Networks follows a series of strategic acquisitions by PDI Technologies, including partnerships with Nuspire and Comdata Merchant Solutions. These collaborations have allowed PDI to extend its capabilities in cybersecurity and Point of Sale (POS) solutions to the commercial fueling sector.
Building a Comprehensive Ecosystem
Jimmy Frangis, CEO of PDI Technologies, emphasized the importance of expanding their technological suite through this acquisition. He stated, “The P97 platform is an invaluable addition to our offerings, enabling a seamless transaction experience and enhanced consumer engagement across a broader network of services.”
Conclusion
The financial advisory role in this acquisition was handled by Berenson & Company, LLC for PDI Technologies, while BofA Securities advised P97 Networks. The integration of P97 into PDI Technologies marks a new chapter in enhancing digital interactions within the convenience and petroleum retail ecosystems.
Frequently Asked Questions
What does the acquisition of P97 Networks mean for PDI Technologies?
The acquisition aims to enhance PDI's digital engagement and payment capabilities by incorporating P97's innovative platform into its offerings.
How will the P97 platform change consumer interactions?
P97's platform provides secure connections for consumers through mobile devices, facilitating easier and more engaging interactions with brands.
What types of brands are currently using P97's services?
Major fuel brands, such as CITGO, ExxonMobil, and Shell, utilize the P97 platform for their mobile payment processing applications.
What future plans does PDI Technologies have for the P97 platform?
PDI intends to invest in the P97 platform, expanding its features and developing an omnichannel experience for a variety of connected devices.
How does this acquisition fit into PDI Technologies' broader growth strategy?
This acquisition is part of PDI's plan to increase its technological capabilities, following other strategic acquisitions to enhance its services in convenience retail and fuel markets.
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