http://www.proactiveinvestors.com Proactiveinvestors RSS feed en Sat, 24 Jun 2017 03:15:16 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - MGM Wireless acquires cloud based e-commerce platform for schools ]]> http://www.proactiveinvestors.com/companies/news/159185/mgm-wireless-acquires-cloud-based-e-commerce-platform-for-schools-54325.html MGM Wireless (ASX: MWR) has acquired Payschool Pty Ltd, a Melbourne based start-up that provides a cloud based e-commerce solution to schools in a value accretive acquisition.

The acquisition will be funded through a combination of cash and shares. MGM will also pay a fee per transaction to the vendors for three years from the date of settlement.

The Payschool platform enables parents to order and pay for their children’s lunches, school books, uniforms, excursion fees and other items online.

They can also sign permission slips and record medical, dietary or other issues and concerns that schools may need to manage.

It also allows parents to manage multiple children that may be in different schools.

For MGM, revenue will be derived from parents paying a fee based on the value of the transaction whilst schools pay a monthly hosting fee.

Payschool was launched to coincide with the 2014 school year. Currently one school is live with the platform and there is a strong pipeline of interest.

Transaction volume has grown through the course of the term and average transaction value has been high.

For MGM, Payschool fits with its strategy to drive revenue growth from parent pay solutions.

 

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Mon, 14 Apr 2014 16:00:00 -0400 http://www.proactiveinvestors.com/companies/news/159185/mgm-wireless-acquires-cloud-based-e-commerce-platform-for-schools-54325.html
<![CDATA[News - MGM Wireless closer to 1,000 schools with SMS ]]> http://www.proactiveinvestors.com/companies/news/159184/mgm-wireless-closer-to-1000-schools-with-sms-34393.html MGM Wireless (ASX: MWR) has reported high sales activity during the September 2012 quarter which is rapidly driving the company towards 1,000 schools signed onto its SMS messaging service.

During the quarter the company signed 65 new schools, taking the Total number of schools the company is servicing to 940, including 30 in New Zealand, and of which 824 were operational.

Those that weren’t operational will be progressively brought on line over the next few months as installation and training programs are implemented.

During the quarter, MGM received an R&D rebate which contributed to the cash balance of $301,000 as at 30 September 2012.

MGM’s patented SMS School communication solutions allow schools to communicate to parents and caregivers using SMS text messaging to improve student attendance, welfare, safety and parent engagement.

The company is now focused on gaining sales traction with the recently launched new products Rollmarker and School News Channel.

School News Channel allows parents to actively request school SMS notifications online.

Parents pay a small monthly fee, around the price of a cup of coffee, for the service, and School News Channel is installed free of charge for the school when a certain number of parent requests are received.

Discussions are in progress with a number of schools regarding participation in the School News Channel.


FY2012 performance

For the 2012 financial year MGM reported a 153% increase in net profit to a record $603,000.

By the end of the financial year the company had improved its net asset position by over $600,000 to $1.3 million.

Total current liabilities were 37% lower than a year earlier at $615,929.

The company’s SMS messaging service played an important role in helping schools maintain communications with parents during the floods in south-eastern Australia earlier this year.

Over a critical 48 hour period MGM delivered over 200,000 messages compared to a typical school day average of about 35,000, Australia-wide.

The launch of the School News Channel is expected to be a major contributor to growth with the potential to greatly expand the company’s market penetration.

MGM expects that the first schools to launch the new model based on the School News Channel will be operating in early in 2013.


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Thu, 11 Oct 2012 15:30:00 -0400 http://www.proactiveinvestors.com/companies/news/159184/mgm-wireless-closer-to-1000-schools-with-sms-34393.html