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Excentus Acquires Centego Along With Centego's Portfolio of Intellectual Property
IRVING, Texas-(Business Wire)-September 4, 2008 - Excentus Corporation of Irving, Texas, the provider of the fuelperks!® reward program and the leader in fuel-based marketing programs, technology and integration services, and AutoGas Systems, Inc. of Abilene, Texas announce they have entered into a definitive agreement under which Excentus has acquired Centego Marketing, a wholly owned subsidiary of AutoGas. In addition to its own Fuel Rewards® intellectual property, Centego owns all of the fuel reward and cross-marketing patents, trademarks and technology previously owned by AutoGas. Under the agreement, AutoGas becomes a shareholder and partner of Excentus and Randy Nicholson, President & CEO of AutoGas, will join Excentus’ board of directors. The transaction does not include AutoGas’ REGAL POS business, which will remain with AutoGas.
“We have been in discussions with AutoGas over the last few months regarding licensing their intellectual property related to our fuel rewards business. As we learned more about their IP portfolio, particularly with the addition of the newest patent and current patent applications, it became very clear that combining our market leadership, especially around our fuelperks! reward program, with their IP portfolio made for an outstanding partnershipâ€, said Dickson Perry, President & CEO of Excentus. “We welcome AutoGas as our partner and Randy to our board as we continue moving forward with our fuelperks! reward program and other exciting initiatives.â€
Excentus has been in business for over twelve years. For the past eight years the Company has been providing innovative fuel reward technology and services for over 50 retailers in the United States. Three months ago, Excentus launched its fuelperks! reward program, which already has over 5 million consumers participating and is projected to reach 15 million consumers by the end of 2009, and 50 to 100 million over the next three to five years. Since the 1970’s Mr. Nicholson and AutoGas have been industry pioneers introducing the first pay-at-the-pump locations and making them an industry standard. In 1996, AutoGas filed its first patent applications and in 2000 received its first patent from the USPTO regarding fuel cross-marketing and rewards. During the eight years since the first patent was awarded, AutoGas has received or acquired seven other patents and filed many supplementary patent additions covering various aspects of fuel cross-marketing and rewards.
“Excentus has become the market leader in providing fuel rewards technology and services,†said Mr. Nicholson. “Through our licensing discussions we were impressed by their ability to execute on the many aspects of fuel cross-marketing and rewards covered under our IP portfolio as evidenced by their impressive list of customers. We particularly became excited about their fuelperks! reward program and future plans for it - and are delighted to be a partner with the market leading provider of Fuel Rewards.â€
About Excentus:
Excentus Corporation is the provider of the fuelperks! reward program and the leader in delivering innovative fuel-based marketing programs, technology and integration services. Headquartered in Irving, Texas, Excentus Corp. was founded in 1996. It is a privately held company with over 90 customers in the U.S. and Canada. For more information, email marketing@excentus.com, or visit www.excentus.com.
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