Crossrider buys PC mainatainance software from eSupport.com for £1m

24th Oct 2016 09:30

(ShareCast News) - Online distribution and digital product company Crossrider bought PC maintenance software, DriverAgent, from eSupport.com for $1m.The bolt-on acquisition is in line with the AIM listed company's strategy to strengthen its business to customer reach in order to operate as a digital distribution and product hub utilising existing technology and intellectual property.Prior to the acquisition, the company promoted it on its app distribution platform, which resulted in a 125% increase in revenue and doubling the gross profit when compared with the monthly average profit before the launch on the app, which the company said indicated that DriverAgent can be integrated quickly and profitably.DriverAgent, a device driver search and update service which scans computers, tablets and mobile devices for outdated drivers on all Microsoft Windows operating systems, has been downloaded more than 50m times since 2006.Ido Erlichman, chief executive of Crossrider, said the company's expertise has always been in driving and monetising online traffic and by concentrating on developing and growing its app distribution hub that the company will create the greatest value for shareholders."Launching - and acquiring - new online products to leverage our distribution funnel is one of the means by which we will do this, and this acquisition is the first step on the journey."Shares in Crossrider were up 4.71% to 36.65p at 0903 BST.