Boom Commerce Completes Strategic Investment in POS Technology Leader Ovvi

Boom Commerce Completes Strategic Investment in POS Technology Leader Ovvi

PORTLAND, Ore.–(BUSINESS WIRE)–Oct 28, 2020– First Eagle Investment Management recently released its Q3 2020 Investor Letter, a copy of which you can download here. The First Eagle Global Fund A… Agreements for EUR 60 million from EIB will enable the four countries to either become full members or increase their current participation in ATI before the year ends.

PORTLAND, Ore.–(BUSINESS WIRE)–Oct 28, 2020–

Boom Commerce, leading provider of electronic payment processing products and services, has announced a strategic investment in top point-of-sale (POS) technology company, Ovvi (formerly POSsible POS).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201027005129/en/

Ovvi is a market leader in fully integrated POS hardware, software and payment processing solutions customized for a wide variety of merchants and verticals, including restaurants, bars, lounges, retail, liquor stores, convenience stores and grocery stores. Ovvi’s feature rich POS technology includes inventory management, employee time and management, data analytics and reporting insights, multi-language functionality and online ordering and delivery systems, as well as a multitude of integrations with leading accounting and payroll systems, payment processors and other strategic partners. Ovvi’s sales and business development functions are managed out of its new offices in Newport Beach, CA.

The partnership deepens Boom’s position as a leader in the integrated payments space and provides Boom and its distribution partners with an enhanced POS technology product suite to offer merchants and tools to significantly reduce POS costs by decreasing reliance on third-party POS providers. The transaction also enables Ovvi to tap into Boom’s industry leading distribution channels as well as strategic support and capital to fuel its growth.

Sabin Burrell, Boom CEO, said “We’re ecstatic about this investment and partnership with Ovvi. We’ve looked at many POS companies over the years and Ovvi’s technology is far superior to any we’ve seen in the market. Combining Ovvi’s product and technology expertise with our vast distribution network will be immediately accretive to both companies and expand our market share in both the POS and integrated payment spaces.”

Ovvi CEO Manan Mehta added, “This capital infusion and distribution partnership with Boom will jumpstart our already impressive growth trajectory and give our team more breathing room to focus on what we’re good at – product and technology development. Leveraging Boom’s capital and distribution network and its many strategic relationships within the industry is a huge win for us as we continue improving our suite of POS technology products to enter more markets in both the US and globally and dominate the space from a technology and user experience standpoint.”

Boom and Ovvi have each achieved over 30% revenue growth year over year in 2020 despite dire economic conditions and this partnership positions both companies to exceed that growth rate in 2021. This transaction will not impact any existing customer accounts with Boom or Ovvi.

About Boom Commerce

Boom Commerce is a payment processing technology and service provider headquartered in Portland, Oregon, with additional offices spread across the country. Through our multi-bank full service payment processing platform, we provide a comprehensive suite of payment solutions to support merchants and transaction types of all kinds, including small and medium sized businesses, large enterprises and e-commerce. We market our products and services through a large and diverse network of distributors who we support with technology, expertise and capital to ensure their growth and success. We are also a leading player in the payments industry acquisition space with a focus on strategic and synergistic acquisitions. Our mission is to simplify and streamline the payments experience for our merchants and create an environment in which our distribution and other trusted partners can thrive. Learn more at boomcommerce.com.

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About Ovvi

Ovvi is a point-of-sale (POS) technology and payments company headquartered in Stafford, Texas, with a regional sales office in Newport Beach, California. We offer leading integrated POS hardware, software and payment solutions to thousands of merchants around the globe within a wide variety of verticals, including restaurants, bars, retail and convenience stores. Our feature rich solutions include inventory management, employee time and management, data analytics and reporting insights, multi-language functionality and online ordering and delivery systems, as well as numerous integrations with leading accounting and payroll systems, payment processors and other strategic partners. Visit us at ovvihq.com and follow us on Facebook, LinkedIn, Twitter and Instagram.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201027005129/en/

CONTACT: Boom Commerce Media Contact:John Hynes

833-800-2666

media@boomcommerce.com

KEYWORD: OREGON UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY FINANCE VENTURE CAPITAL BANKING OTHER TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE HARDWARE RETAIL ONLINE RETAIL

SOURCE: Boom Commerce

Copyright Business Wire 2020.

PUB: 10/28/2020 07:05 PM/DISC: 10/28/2020 07:05 PM

http://www.businesswire.com/news/home/20201027005129/en

Copyright Business Wire 2020.

Source: www.valdostadailytimes.com


First Eagle is Betting on Comcast Corp (CMCSA) Stock

First Eagle is Betting on Comcast Corp (CMCSA) Stock

First Eagle Investment Management recently released its Q3 2020 Investor Letter, a copy of which you can download here. The First Eagle Global Fund A Shares posted a return of 5.64% for the third quarter (without sales charge), underperforming its benchmark, the MSCI World Index which returned 7.93% in the same quarter. You should check out First Eagle’s top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.

In the said letter, First Eagle highlighted a few stocks and Comcast Corp (NASDAQ:CMCSA) is one of them. Comcast Corp (NASDAQ:CMCSA) is a telecommunications company. Year-to-date, Comcast Corp (NASDAQ:CMCSA) stock lost 5% and on October 28th it had a closing price of $41.97. Here is what First Eagle said:

“Media and telecommunications company Comcast hit an all-time high in early 2020, only to sell off with the onset of the Covid-19 pandemic and its anticipated impact on the company’s NBCUniversal entertainment unit. Comcast’s stock price has since recovered, driven in part by ongoing strength in the company’s broadband business. Late in the quarter, activist hedge fund Trian Fund Management announced that it had acquired a stake in Comcast, believing it to be undervalued; however, any actions Trian seeks to employ to unlock value may be complicated by the fact the more than one-third of Comcast’s voting rights are held by the company’s founding family.”

In Q2 2020, the number of bullish hedge fund positions on Comcast Corp (NASDAQ:CMCSA) stock decreased by about 4% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t believe in Comcast’s growth potential. Our calculations showed that Comcast Corp (NASDAQ:CMCSA) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free enewsletter below to receive our stories in your inbox:

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Disclosure: None. This article is originally published at Insider Monkey.

Source: www.insidermonkey.com

Author: Alex Smith


Initiative to leverage EUR 1bn private sector investment in West and Central Africa | Business

Initiative to leverage EUR 1bn private sector investment in West and Central Africa | Business

Initiative to leverage around EUR 1 billion private sector investment in Western and Central African states; EIB agrees on EUR 60m financing to unlock African Trade Insurance Agency (ATI-ACA.org) membership; Team Europe-Africa cooperation supporting economic resilience to COVID-19.

Private sector investment in Benin, Burkina Faso, Chad and Senegal, will be strengthened following European Investment Bank support for the countries in their membership and share capital increase in the African Trade Insurance Agency (ATI).

The West and Central African states, Burkina, Chad and Senegal will join 18 African countries including Benin, who is already a member, where business investment, job creation and access to finance has been increased by targeted investment insurance. As seen elsewhere across Africa, ATI membership will help to address the economic, social and health challenges caused by COVID-19.

Agreements for EUR 60 million from EIB will enable the four countries to either become full members or increase their current participation in ATI before the year ends. This is expected to leverage an estimated EUR 1 billion of new private sector investment.

The latest EIB support for transformational investment was agreed during a virtual signature ceremony attended by Toavina Ramamonjiarisoa, Acting Chief Executive Officer of ATI and Maria Shaw-Barragan, Director for EIB operations in Africa, the Caribbean and the Pacific.

“Business activity across West Africa will be transformed following this key agreement between ATI and the European Investment Bank. By joining ATI, Burkina, Chad and Senegal will be able to accelerate crucial investment and better cope with the pandemic. Benin, who has been a member since 2012, will further benefit from ATI’s products, through its new capital increase. Over the last twenty years, ATI has supported more than USD$62 billion of investments and trade across Africa. With ATI’s innovative solutions, member states have been able to attract competitively priced and longer-term financing owing to strong credit ratings, S&P ‘A’ and Moody’s ‘A3’, and ability to mobilize highly-rated reinsurance capacity.” said Toavina Ramamonjiarisoa, ATI’s Acting Chief Executive Officer.

“The European Investment Bank is pleased to enable Burkina Faso, Chad and Senegal to become full members of the African Trade Insurance Agency and Benin to increase its stake in ATI. This will facilitate and expand the private sector and clean energy investment across West Africa and the Sahel. Improved insurance will create jobs and help business and entrepreneurs to better address challenges caused by COVID-19. As the bank of the European Union, the European Investment Bank is committed to supporting high-impact investment across Africa. The EIB is pleased to further strengthen our cooperation with ATI to ensure that proven trade and investment insurance expertise benefits even more countries in Africa. The EUR 60 million EIB support, in addition to the EUR 34 million rolled out last year to support Cameroon, Niger and Togo’s memberships demonstrates Team Europe’s rapid response to enhance cooperation with African partners during challenging times. New EIB support for private sector investment in West Africa follows recent backing of large scale solar energy and fifty years of engagement across Africa.” said Ambroise Fayolle, European Investment Bank Vice President.

Enabling Benin, Burkina, Chad and Senegal to benefit from African private sector investment best practice

Becoming a full member country will make it easier and cheaper for investors to create jobs, expand business activity and provide clean energy in all these countries.

Elsewhere in Africa, membership of ATI has enabled countries to reduce debt levels and provide global investors and financiers with comfort that sovereign transactions and other investments are back-stopped by a highly rated and reputable insurance guarantee provider.

The lack of investment insurance in most African markets is holding back vital investments, both in equity or debt, and hampers cross border trade. In recent months, increased economic challenges linked to the COVID-19 pandemic has compounded the shortage of trade insurance in Africa. ATI’s presence is therefore now, more than ever, a key component of many countries’ ability to remain attractive investment destinations.

As African countries begin to build buffers against the likely negative economic fall out from COVID-19, investment insurance capacity is seen as a critical part of the financial support that will be needed to better protect the economies of many African countries.

(With Inputs from APO)

Source: www.devdiscourse.com


Boom Commerce Completes Strategic Investment in POS Technology Leader Ovvi


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