Spare Backup Provides Online Storage Services for ThinkSmart Customers

Spare Backup, Inc. has entered into a Master Services Agreement with ThinkSmart, an international company in the provision of point of sale financing, whose products bridge the gap between a credit card and a bank loan delivering a fast, simple finance solution for customers at the retail point of sale.

Under the terms of the agreement, Spare Backup and ThinkSmart have jointly created a platform to provide Spare Backup’s Online Data storage services to all new ThinkSmart customers in Australia. ThinkSmart’s products in Australia are distributed under the ‘RentSmart‘ brand and are available in more than 1,000 retail outlets around the country, including leading retailers Dick Smith, JB Hi-Fi, Officeworks and NextByte.

New customers signing up to the RentSmart product will be directed to a co-branded registration site that allows RentSmart customers to sign up for Spare Backup’s Online Data Storage services. RentSmart customers will be entitled to register for a 5 GB / 5 device storage account at no cost. They will also have the option to subscribe to higher on-line storage packages starting at 10 GB with monthly or annual payment options. RentSmart will pay Spare Backup a confidential amount on each user who subscribes for the 5 gig plan and both parties have entered into a confidential revenue sharing agreement that will operate on a mutually beneficial basis.

"We are pleased to add ThinkSmart to our growing list of worldwide distribution partners. This agreement is another example of our ability to attract proven high profile business partners and helps to further expand our international footprint. The terms of the agreement are forward thinking in that revenue is generated based upon user adoption without an upfront cost to the customer. We are excited about the structure of this partnership. There are no barriers to participation for the customer and the revenue sharing agreement makes it an undeniably positive arrangement for both ThinkSmart and Spare Backup," stated Cery Perle, CEO of Spare Backup.

ThinkSmart Executive Chairman and CEO, Ned Montarello said: "This is an important new product development for the ThinkSmart Group in Australia and we’ve undertaken an extensive search for a partner who could meet our needs. Spare Backup resonates well with our business as we are both international market leaders in our respective fields and the synergies to do good business are strong."