SinglePoint's newest acquisition targets marijuana industry

SinglePoint, Inc., a state-of-the-art mobile technology and full-service mobile marketing company, has signed a Letter of Intent (LOI) to purchase Drive Media Network’s existing digital signage network. SinglePoint anticipates having Drive Media’s management team join the SinglePoint team and bring its more than 30 years collective experience designing, building, operating and programming digital signage networks nationwide.
The acquisition advances SinglePoint’s strategy to offer a comprehensive package of marketing, CRM, payments and other relevant solutions to its existing clientele and the up-and-coming industry of medical and recreational marijuana.
“The acquisition of Drive Media will greatly expand our service offerings to our existing client base and help us gain a foothold into the medical marijuana industry,” said Greg Lambrecht, CEO of SinglePoint. “By offering cannabis dispensaries a full suite of services, SinglePoint can help improve dispensaries’ business operations, build stronger customer relationships as well as increase sales and revenue. It’s important to note that dispensaries are a primary objective; however we intend to market screens and advertising opportunities in various industries.”

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A marijuana dispensary works somewhat similar to a regular doctor’s office. The patient arrives and waits their turn in a waiting room before going into the supply room. It is in the waiting room that the individual will be encircled with SinglePoint’s media screens displaying marketing campaigns, menus, and educational information about marijuana.
“We’re really excited by SinglePoint’s vision to leverage our digital display expertise for the as-yet-untapped medical marijuana industry, which could potentially put our screens in thousands of legal dispensaries nationwide,” said Ronald Gross, CEO for Drive Media Networks. “There are also some great synergies between our displays and SinglePoint’s mobile marketing and payments offerings, including providing viewers with an immediate response and payment mechanism for the ads they view.”
The first stage of implementation will be to install screens and begin marketing campaigns around the dispensaries. The next step, after approval from the federal government and banking institutions, will be to combine and utilize SinglePoint’s payment process system.
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Graphics provided by SinglePoint