Phunware To Acquire Stake in Campaign Nucleus Subsidiary
Phunware (NASDAQ: PHUN) has signed a term sheet to acquire a controlling interest in MyCanvass, , a subsidiary majority owned by Campaign Nucleus, for $1.02 million in cash and stock. MyCanvass specializes in voter and advocacy engagement tools, including mobile apps. The acquisition will combine Phunware's enterprise cloud solutions with Campaign Nucleus's political campaign expertise to develop AI-powered canvassing tools. The partnership aims to enhance campaign effectiveness, enable real-time voter outreach, and support political and advocacy campaigns both within and outside the U.S.
Phunware (NASDAQ: PHUN) ha firmato un accordo per acquisire una partecipazione di controllo in MyCanvass, una filiale di proprietà maggioritaria di Campaign Nucleus, per 1,02 milioni di dollari in contante e azioni. MyCanvass è specializzata in strumenti per il coinvolgimento degli elettori e delle advocacy, inclusi le app mobili. L'acquisizione combinerà le soluzioni cloud di Phunware con l'expertise di Campaign Nucleus nelle campagne politiche per sviluppare strumenti di canvassing potenziati dall'IA. La partnership mira a migliorare l'efficacia delle campagne, abilitare il contatto real-time con gli elettori e supportare le campagne politiche e di advocacy sia negli Stati Uniti che all'estero.
Phunware (NASDAQ: PHUN) ha firmado un acuerdo para adquirir una participación de control en MyCanvass, una subsidiaria de propiedad mayoritaria de Campaign Nucleus, por 1,02 millones de dólares en efectivo y acciones. MyCanvass se especializa en herramientas de compromiso para votantes y advocacy, incluidas aplicaciones móviles. La adquisición combinará las soluciones empresariales en la nube de Phunware con la experiencia en campañas políticas de Campaign Nucleus para desarrollar herramientas de canvassing impulsadas por IA. La asociación tiene como objetivo mejorar la eficacia de las campañas, permitir el contacto en tiempo real con los votantes y apoyar campañas políticas y de advocacy tanto dentro como fuera de los Estados Unidos.
Phunware (NASDAQ: PHUN)는 MyCanvass의 지배권을 획득하기 위해 102만 달러의 현금 및 주식으로 캠페인 핵심 주주인 Campaign Nucleus와 협약을 체결했습니다. MyCanvass는 유권자 및 인도 지원 도구, 특히 모바일 앱에 전문화되어 있습니다. 이번 인수는 Phunware의 기업 클라우드 솔루션과 Campaign Nucleus의 정치 캠페인 전문성을 결합하여 AI 기반의 유세 도구를 개발할 것입니다. 이 파트너십은 캠페인 효과성을 향상시키고, 실시간 유권자 접촉을 가능하게 하며, 미국 내외의 정치 및 인도 지원 캠페인을 지원하는 것을 목표로 하고 있습니다.
Phunware (NASDAQ: PHUN) a signé une feuille de termes pour acquérir une participation de contrôle dans MyCanvass, une filiale majoritairement détenue par Campaign Nucleus, pour 1,02 million de dollars en espèces et en actions. MyCanvass est spécialisée dans les outils d'engagement des électeurs et de plaidoyer, y compris les applications mobiles. L'acquisition combinera les solutions cloud d'entreprise de Phunware avec l'expertise en campagnes politiques de Campaign Nucleus pour développer des outils de canvassing alimentés par l'IA. Le partenariat vise à améliorer l'efficacité des campagnes, à permettre un contact en temps réel avec les électeurs et à soutenir les campagnes politiques et de plaidoyer tant aux États-Unis qu'à l'étranger.
Phunware (NASDAQ: PHUN) hat einen Term Sheet unterzeichnet, um eine Kontrollbeteiligung an MyCanvass, einer mehrheitlich im Besitz von Campaign Nucleus befindlichen Tochtergesellschaft, für 1,02 Millionen Dollar in bar und Aktien zu erwerben. MyCanvass ist auf Werkzeuge zur Wähler- und Advocacy-Interaktion spezialisiert, einschließlich mobiler Apps. Die Akquisition wird die Unternehmens-Cloud-Lösungen von Phunware mit dem politischen Kampagnen-Know-how von Campaign Nucleus vereinen, um KI-gestützte Canvassing-Tools zu entwickeln. Die Partnerschaft zielt darauf ab, die Effektivität von Kampagnen zu erhöhen, die Echtzeit-Ansprache von Wählern zu ermöglichen und politische und Advocacy-Kampagnen sowohl innerhalb als auch außerhalb der USA zu unterstützen.
- Strategic acquisition valued at $1.02 million combines complementary technologies
- Expansion into political campaign technology market
- Partnership with established political campaign platform serving major campaigns
- Development of AI-powered solutions for voter engagement
- Acquisition payment includes stock component, potentially diluting existing shareholders
- Deal still contingent on definitive documentation
- Entry into politically sensitive market could pose reputational risks
Insights
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The technology integration between Phunware's enterprise cloud solutions and Campaign Nucleus's campaign management platform could create synergies in voter targeting and engagement. However, the political nature of the business adds significant volatility and cyclical revenue patterns tied to election cycles. The association with specific political figures may also impact broader market adoption and create reputational risks.
This acquisition positions Phunware in the growing political technology market but comes with mixed implications. While the deal provides access to Campaign Nucleus's existing client base and political campaign expertise, the relatively small investment suggests immediate financial impact. The political tech market is highly competitive and seasonal, with revenues concentrated around election cycles.
The company's micro-cap status (
Partnership Will Use Advanced Technology to Revolutionize Political Campaign and Advocacy Canvassing
AUSTIN, Texas, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN), a leader in enterprise cloud solutions for mobile applications, announced that it signed a term sheet, in conjunction with other parties, to acquire a controlling interest in MyCanvass, LLC, which is currently indirectly majority owned and controlled by Campaign Nucleus, a SaaS platform company founded by Brad Parscale, for a mix of cash and Phunware stock having an aggregate value of
MyCanvass is a technology company focused on providing voter and advocacy engagement tools, including mobile apps. Phunware and Campaign Nucleus intend to utilize MyCanvass and its campaign canvassing and advocacy software to develop innovative approaches to identify, engage and mobilize voters, manage canvassing operations, and integrate them with campaigns within and outside of the U.S.
“We are very excited to add the innovative MyCanvass technology platform to our portfolio as we explore solutions that align our technology with both companies shared missions to be true to our core values. Our collaboration will also aim to reduce inefficiencies, enhance campaign and advocacy effectiveness, and enable real-time, personalized voter outreach and engagement through AI and modular solutions,” said Stephen Chen, CEO of Phunware.
Phunware and Campaign Nucleus intend for MyCanvass to serve as the foundation of a strategic partnership that will focus on developing AI-powered canvassing and related management and operations tools to support political and advocacy campaigns, emphasizing transparency, accountability, and grassroots empowerment.
The MyCanvass acquisition would occur as highly dynamic and charged election cycles highlight the need for robust, AI-driven canvassing tools to safeguard political campaign integrity. Phunware and Campaign Nucleus aim to have MyCanvass equip grassroots movements with cutting-edge digital infrastructure to drive voter and advocacy engagement and facilitate success for campaigns and advocacy groups.
Phunware and Campaign Nucleus will endeavor to invest in political and advocacy technology, targeting election cycles and other advocacy opportunities within and outside of the U.S. with advancements in AI and mobile applications.
Brad Parscale noted, “We are excited to again partner with Phunware and combine the innovative technology stacks of Campaign Nucleus and Phunware. Together, we’re creating something revolutionary for canvassing to empower campaigns with cutting-edge tools to drive grassroots engagement and win elections.”
About Campaign Nucleus
Campaign Nucleus is a SaaS platform designed to improve campaign management and digital communications. It acts as a central command center, offering tools for data analysis, voter targeting, media engagement, and events. Built for political campaigns, organizations, and advocacy groups, it focuses on streamlining operations, increasing efficiency, and scaling campaign efforts. Created by Brad Parscale, the platform draws from his experiences as Digital Director for Donald Trump’s 2016 campaign and Campaign Manager for Trump’s 2020 campaign.
About Phunware
Phunware, Inc. (NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions with integrated intelligent capabilities. We provide businesses with the tools to create, implement, and manage custom mobile applications, analytics, digital advertising, and location-based services. Phunware is transforming mobile engagement by delivering scalable, personalized, and data-driven mobile app experiences.
Phunware’s mission is to achieve unparalleled connectivity and monetization through widespread adoption of Phunware mobile technologies, leveraging brands, consumers, partners, digital asset holders, and market participants. Phunware is poised to expand its software products and services audience through its new platform, utilize and monetize its patents and other intellectual property, and reintroduce its digital asset ecosystem for existing holders and new market participants.
For more information on Phunware, please visit www.phunware.com. To better understand and leverage generative AI and Phunware’s mobile app technologies, visit https://ai.phunware.com/advocacy.
Safe Harbor / Forward-Looking Statements
This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” and similar expressions are intended to identify forward-looking statements. For example, Phunware is using forward-looking statements when it discusses the adoption and impact of emerging technologies and their use across mobile engagement platforms.
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