WESTON, FL - (NewMediaWire) - October 30, 2015 - Monaker Group, Inc. (OTCQB: MKGI), (the "Company") or ("Monaker"), a technology driven travel and digital marketing company, announced today that it has acquired AlwaysOnVacation ("AOV"), one of the world's largest and most popular rental marketplaces.
AlwaysOnVacation, based in San Ramon, California, has positioned itself since 2007 in the online vacation room and home rental marketplace, building its platform and, by the end of 2014, the company reached key milestones which included over 6 million monthly visitors, 65,000 listed properties across 120 countries, 60 affiliated partner websites, 16 language conversions and approximately 700,000 global subscribers to the company's newsletters, which are published in 16 languages.
Monaker Group Chairman & Chief Executive Officer, Mr. Bill Kerby commented on the acquisition stating, "The acquisition of AlwaysOnVacation is highly complementary and integrating AOV with Monaker's products under our Nexttrip.com brand should enable us to increase our listed properties by 500% over the next quarter. This will greatly accelerate Monaker's presence and growth in the exciting and rapidly growing online vacation lodging space with peer companies like Airbnb, V.R.O.B. and HomeAway."
Mr. Kerby added, "As we move forward with integration and planned technical development with AOV, we've also received a tremendous endorsement with the financial support of a $750,000 equity private placement at $2.50 per share. This capital infusion will allow us to execute the integration, planned programs and meet our scheduled launch in January 2016. Monaker will continue to provide further updates on key milestones met through our execution plan."
AlwaysOnVacation President & CEO, Jeffrey Idso commented on the transaction stating, "We are very pleased to become a part of the Monaker Group. Bill's deep experience as an innovator in Travel Sector, the Monaker brands and existing platforms, combined with the reach his partners have, will leverage and grow the business we have built."
About Monaker Group:
Monaker Group is a digital media marketing company focusing on lifestyle enrichment for consumers in the Travel, Home and Employment sectors. Core to its marketing services are key elements including proprietary video-centered technology and established partnerships that enhance its reach. Video is quickly becoming consumers' preferred method of searching and educating themselves prior to purchases. Monaker's video creation technology and film libraries combine to create lifestyle video offerings that can be shared both to its customers and through "trusted distribution systems" of its major partners. Monaker holds licenses and/or expertise in the travel, real estate and employment sectors, allowing it to capture fees at the point of purchase while the majority of transactions are handled by Monaker's partners, eliminating much of the typical overhead associated with fulfillment. Monaker Group's core holdings include Maupintour, Nexttrip.com, NameYourFee.com and RealBiz Media Group, helping it to deliver marketing solutions to consumers at home, work and play.
Safe Harbor Statement:
This press release contains forward-looking statements that involve risks and uncertainties concerning the plans and expectations of Monaker Group, Inc. These statements are only predictions and actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, some of which are out of our control. The potential risks and uncertainties include, among others, or the expectations of future growth may not be realized. These forward-looking statements are made only as of the date hereof, and Monaker Group, Inc. undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. All forward looking statements are expressly qualified in their entirety by the "Risk Factors" and other cautionary statements included in Monaker Group, Inc.'s annual, quarterly and special reports, proxy statements and other public filings with the Securities and Exchange Commission ("SEC"), including, but not limited to, the Company's Annual Report on Form 10-K for the period ended February 28, 2015 which has been filed with the SEC and is available at the SEC's website at www.sec.gov.