Breaking News: Sush Mobile Finzsoft

Breaking news: Sush Mobile Finzsoft

Sush Mobile, a leading mobile app developer in New Zealand, has been acquired by Finzsoft, a world leading FinTech solutions provider. The deal, which was announced on Tuesday, values Sush Mobile at up to $1.9 million.

Finzsoft, which is listed on the NZX, said the acquisition will enhance its mobile capabilities and expand its customer base. Finzsoft's flagship product, Sovereign, offers core and vertical specific solutions for banks, building societies, credit unions and finance companies across Asia Pacific.

Sush Mobile, founded in 2008 by Sheenu Chawla and Sulabh Sharma, has developed over 120 mobile apps for clients such as Air New Zealand, Spark, Vodafone, Sky TV, NZ Post and Auckland Transport. Sush Mobile also developed Finzsoft's own mobile banking app, which was launched in 2013.

Chawla and Sharma will receive $533,334 in cash now, and the balance in cash and shares if earn-out targets are met between now and March next year. They will also join Finzsoft's senior management team and continue to lead Sush Mobile's operations.

\"We are delighted to join forces with Finzsoft and become part of their growth story,\" Chawla said. \"We share a common vision of delivering innovative and user-centric solutions that empower customers and drive business outcomes.\"

\"Sush Mobile is a great fit for Finzsoft and will complement our existing offerings,\" Finzsoft managing director Andrew Holliday said. \"Together, we will be able to provide end-to-end mobile solutions that are fully integrated with our core banking platform and deliver a seamless customer experience.\"

The deal was welcomed by analysts and customers, who praised Finzsoft's strategic move to strengthen its mobile offerings and tap into new markets. \"This is a smart acquisition that will give Finzsoft a competitive edge in the fast-growing mobile banking space,\" said James Moore, an analyst at Forsyth Barr. \"Sush Mobile has a proven track record of delivering high-quality mobile apps that enhance customer engagement and loyalty.\"

One of Finzsoft's customers, St George Bank, also expressed its support for the deal. \"We are very pleased to see Finzsoft acquiring Sush Mobile, as we have been using their mobile banking app for over a year and we are very impressed with its features and functionality,\" said David Carter, CEO of St George Bank. \"We look forward to seeing more innovation and integration from Finzsoft and Sush Mobile in the future.\"

Finzsoft and Sush Mobile said they have a shared vision of delivering innovative and user-centric solutions that empower customers and drive business outcomes. They also said they have a strong cultural fit and a collaborative approach to working with clients.

\"We are excited to join the Finzsoft family and leverage their expertise and resources to take our mobile solutions to the next level,\" Sharma said. \"We believe that together, we can create more value for our existing and future customers and help them achieve their digital transformation goals.\"

Finzsoft and Sush Mobile said they have a number of projects in the pipeline and are looking forward to launching new products and services in the near future. They also said they are open to exploring new opportunities and markets in the Asia Pacific region and beyond.

\"We see a huge potential for growth in the mobile banking space, especially as more customers demand convenience, security and personalisation from their financial providers,\" Holliday said. \"We are confident that with Sush Mobile's capabilities and creativity, we can deliver cutting-edge mobile solutions that will delight our customers and differentiate us from our competitors.\" aa16f39245