May 19, 2020

Coca-Cola stays bubbly declining Foster's business

Australia
SABMiller
Coca-Cola Amatil
Coke
Bizclik Editor
2 min
Coca-Cola stays bubbly declining Foster's business

Coca-Cola Amatil is screwing the cap on the opportunity to buy the Foster’s spirit business to focus on its existing agreement with spirit-maker Beam, according to a Herald Sun article.

Interest is still bubbling for Foster’s non-alcoholic drinks and Fiji brewery and distilling businesses, Coca-Cola announced. It allocated upward of $200 million to buy the three businesses.

Cougar bourbon and The Black Douglas scotch were included in the spirit brands portfolio offer to Coca-Cola.  Flagship products Cascade juices still have a chance to Open Happiness with the soft-drink leader in the non-alcoholic business.

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Acquisition rights for the Foster’s businesses were offered to Coca-Cola in conjunction with a joint-venture to sell its share of Pacific Beverages with SABMiller, a global Anglo-South African brewing giant. SABMiller spent about $10 billion acquiring Foster’s in 2011 with a deal that won Coca-Cola the right to buy the businesses.

Because Coca-Cola fizzed out on purchasing the spirits and pre-mixed drinks business, it anticipates a payout of $34 million from SABMiller. Coca-Cola opted to keep about $140 million put aside to buy the businesses. 

The group expected to pay $50 million - $70 million if it acquired both business, said managing director Terry Davis. He added due diligence was conducted in making this decision. This money will instead be used to finance Coca-Cola’s growth plans.

Most likely the Foster’s spirits brands would not have been given the same amount of attention from the brewer or new owner, according to analysts.

Coca-Cola may also believe it will have a better return by further investing in its current Beam agreement. Beam is projected to release a new line of products during the next 18 months.

The group's shares closed down 1c at $11.93.

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Jun 22, 2021

Digital Leader Mobiquity Expands Into Asia-Pacific

Mobiquity
Microsoft
Fintech
APAC
3 min
Mobiquity pursues a vision of global growth with its first APAC hire—Gustavo Quiroga, its new Vice President of Business Development Financial Services

As an international digital consulting firm, Mobiquity helps a global client base upgrade its digital banking and financial services. The company employs 1,200 team members across 50+ nationalities and serves an estimated 200+ million users each day. Recently, the company built out a digital banking experience for the Bank of the Philippines Islands’ online and mobile platforms—exemplifying its mission to help leading brands engage with technology in meaningful ways. 

 

To highlight Mobiquity’s services, here are a few of the company’s recent accomplishments

 

  • Designed and developed the first FDA-approved digital medicine system
  • Launched a five-star mobile ordering app
  • Pioneered a cloud-based IT infrastructure that prevented bank fraud
  • Built the official AWS re:Invent 2017 and 2018 mobile apps 

 

What Makes Mobiquity Stand Out? 

According to Mobiquity, it's the people that make all the difference. ‘We’re born innovators who like meaty challenges’, the company wrote. ‘We go deeper, getting to the root of your customers’ friction and creating personalised engagements that deliver much more than a digital experience alone’. Now, the company has added former Microsoft and IBM director Gustavo Quiroga to its team. 

 

Who Is Gustavo Quiroga? 

At Mobiquity, he’ll be the first Vice President of Business Development Financial Services in APAC. With years of experience in the industry, Quiroga has developed numerous tech, business, and customer experience projects: at Microsoft, he led a top Aussie Azure Data and AI specialist team, and at IBM, he applied AI and deep analytics to transform the company’s business processes, CX, and UX. 

 

Based in Sydney, Australia, Quiroga will start to work with Mobiquity clients in Singapore, Vietnam, and the Philippines and take responsibility for expanding the company’s regional operations. ‘Our best way to impact client outcomes’, he wrote, ‘is by listening to them with an inquisitive and open mind and empowering our people to do the same’. 

 

When notified of the announcement, Quiroga expressed excitement over his new role. ‘I’m delighted to join Mobiquity and support the company’s rapid expansion across the Asia-Pacific region. I joined Mobiquity to develop, design and implement digital products and services that create meaningful experiences with customers...and I look forward to using my expertise to develop partnerships where we can achieve this every day’. 

 

Where Does Mobiquity Go From Here? 

In the past six months, Mobiquity has hired over 100 new employees, including the high-profile additions of Howard Moore, Senior Director of Banking, and Ruby Walia, Senior Advisor for Digital Banking. This falls in line with the company’s hyper-growth strategy to deliver digital products to the world. 

 

As Matthew Williamson, Mobiquity’s Vice President of Global Financial Services, explained: ‘Our appointment of Gustavo demonstrates [our] commitment to hiring an A-list team of talent. The latest addition to the Mobiquity team supports our vision of global growth in Asia-Pacific, as a recognised partner within the banking and finance ecosystem’.


 

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