Phunware To Acquire Stake in Campaign Nucleus Subsidiary
Summary
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 $1.02 million. 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. 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. We provide businesses with the tools to create, implement, and manage custom mobile applications, analytics, digital advertising, and location-based services. 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.
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