LOS ANGELES--(BUSINESS WIRE)--Opinit LLC is delighted to announce that it has agreed, in principle, to be acquired by Fundamental Applications Corp (“Fundamental”) (CSE: FUN, FRA: 2FA, OTCQB: FUAPF).
Opinit is a Los Angeles-based technology firm that has developed and launched a mobile web content sharing platform. The Opinit application totes an emotion-based content discovery algorithm that hosts nearly 30,000 users across the United States and Europe.
Fundamental is a leading developer of innovative smartphone applications targeted toward millennials. Opinit’s technology will be integrated into Fundamental’s Foro platform, a leading peer-to-peer e-commerce marketplace for students.
Opinit’s Co-Founder Qualid Ladraa said, “We are excited to be merging these platforms in order to create an unparalleled experience for students looking to buy and sell items with other students.”
Ladraa’s resume includes positions at Guess, Ed Hardy, Germany’s Next Top Model by Heidi Klum and JP Selects. He will be joining Fundamental’s Advisory Board.
With the acquisition of Opinit, the Fundamental applications portfolio will approach a quarter of a million users.
“Opinit is a world-class app led by an incredible management team, and we are delighted to have them join the Fundamental family” states Fundamental CEO Brad Moore.
Current Opinit Advisor Brandon Korff will be joining Fundamental’s Advisory Board. Korff is co-founder of Miami-based Panoply Properties and was formerly with MTV Networks, National Amusements Incorporated (the controlling shareholder of Viacom and CBS) and Shady Records.
Co-Founder Paolo Fidanza will be joining the Board of Directors at Fundamental Applications Corp. Findanza’s experience includes positions at Lotus, PriceDoc, JP Selects and Pinot Corporation.
The terms of the deal are not being disclosed.