Milestone Group PLC
("Milestone" or the "Company")
Strategic Agreement with Ve Interactive
Milestone Group PLC is pleased to announce that it has entered a
global agreement to sell the CEM (Customer Experience Management)
Solutions of Ve Interactive Ltd.
'VeCapture' is a patented proprietary ecommerce tool, effective in
securing additional form and shopping cart conversions from aborted
online transactions. Steve Clucas, Executive Chairman of Ve
Interactive commented "The industry average in abandoned carts is
over 60%. Our VeCapture software acts like a black box to shopping
carts, retaining all information entered by the customer prior to
their abandonment, regardless of when the customer closed their
browser or didn't click the submit button. This critical information
then offers businesses the chance to sensitively remarket to those
customers, which can mean the significant difference between
profitability and loss."
Milestone purchased 1.3% of Ve Interactive ordinary shares for a
total consideration of £101,111 and has the right to purchase an
additional 1.3% by the end of November 2009 for the same amount.
Deborah White, CEO of Milestone said "We are excited by the fit
between the two companies. We have been actively looking for media
savvy companies to partner with. Ve Interactive with its VeCapture
technology offers an unparalleled market solution that will be a huge
synergistic asset to Milestone clients."
In addition to taking an equity position in Ve Interactive, Milestone
has secured reseller rights which entitle Milestone to up to 15% of
the gross revenue it generates for Ve Interactive with all software
installations and other costs being paid by Ve Interactive.
FOR FURTHER INFORMATION:
Milestone Group plc
Deborah White, Chief Executive Officer Tel: 020 7929 7826
Milestone Group PLC website: www.milestonegroup.co.uk
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