TORONTO, ONTARIO--(Marketwired - April 5, 2016) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Big Data analytics company, AnalytixInsight Inc. (the "Company" or "AnalytixInsight") (TSX VENTURE:ALY) is pleased to announce that further to its previous news release of March 3, 2016, the Company and Grupo Intesa Sanpaolo ("Intesa Sanpaolo") have executed a definitive agreement pursuant to which Intesa Sanpaolo has agreed to exercise their option to acquire a 33% share in the Company's mobile subsidiary Marketwall S.r.L ("MarketWall"). This agreement is a follow up to the recent announcement of significant progress in the multi-year strategic partnership with Intesa Sanpaolo, wherein MarketWall will be integrated with Intesa Sanpaolo's retail banking portals.
- The licensing partnership with Intesa Sanpaolo is expected to provide a minimum revenue stream of CAD$2 million annually for 5 years (minimum CAD$10 mill over the period).
- As part of this initiative, MarketWall will provide a custom version of the MarketWall App to Intesa Sanpaolo's approximately 20 million retail customers and will also work with Intesa Sanpaolo to closely integrate the MarketWall App with Intesa Sanpaolo's retail banking portals.
- The commercial launch of the initiative is expected to be in January 2017 and on successful completion, the MarketWall App will provide a range of financial services through Intesa Sanpaolo's mobile platform.
- MarketWall will also extend its existing App to include trading functionality. This trading functionality will be fully integrated to Intesa Sanpaolo's banking platform in six countries where the partnership is exclusive - Italy, Slovakia, Slovenia, Croatia, Hungary and Serbia - and will be available for approximately 20 million customers.
Intesa Sanpaolo is among the top banking groups in Europe with a market capitalization of approximately EUR54.2 billion (approximately CAD$78 billion). As a part of this change, Intesa Sanpaolo will be nominating a new director to the Marketwall board of directors shortly.
As previously announced on March 28, 2016, the Company had announced changes to its board of directors ("Board") with the addition of new directors and an advisory board (Bios available at www.analytixinsight.com). This is a part of the Company's initiatives for various strategic partnerships and acquisitions, particularly in Latin America, to help manage the Company's growth. The Board now includes directors with experience in software integration for rolling out mobile platforms, building partnerships in Latin America as well as the healthcare and gaming sectors. The demand for machine driven algorithmic content continues to grow with increasing requirements for Big Data analytics across such industries. The Company anticipates some infrastructure and operational changes to manage this growth and to continue the ongoing roll out of its content in multiple countries across various platforms.
As a part of these initiatives, the Company is also pleased to announce that the previously announced non-brokered private placement (the "Offering") of 6,812,500 units ("Units") issued at a price of CDN$0.16 per Unit, raising gross proceeds of CDN$1,090,000 is now closed. The Offering was over-subscribed by 406,250 Units. A significant portion of this Offering was subscribed by management and directors. Each Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a "Warrant"). Each Warrant shall entitle the holder to acquire one common share in the capital of the Company at a price of CDN$0.25 and the Warrants will have a term of twelve months from the time of the closing of the Offering. The securities underlying the Units, including the common shares and Warrants issued on closing, as well as the common shares issuable upon due exercise of the Warrants, will all be subject to a four month statutory hold period commencing on the date of issuance.
No finder's fees were paid in connection with the Offering and the proceeds will be used for working capital to manage these growth initiatives.
On behalf of the Board of Directors of ANALYTIXINSIGHT INC.
Prakash Hariharan
Chairman
ABOUT ANALYTIXINSIGHT INC
AnalytixInsight Inc's technology platform helps transform data into narratives. The Company's online portal www.capitalcube.com and mobile platform Marketwall (www.marketwall.com) provide high-quality financial research and content for investors, information providers, finance portals and media. The Company's disruptive technology algorithmically analyzes market price data and regulatory filings to create insightful, actionable narratives and research on approximately 50,000 global companies and ETFs - all available as a cloud-based, SAAS offering. This platform capability is extensible to other asset classes and sectors to generate insightful research reports.
CapitalCube and Marketwall have existing business relationships with leading global financial and media institutions. For more information about CapitalCube visit http://www.capitalcube.com. For more information about Marketwall visit http://www.marketwall.com.
Regulatory Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the growth of the Company's business operations, the Company's ability to pursue growth opportunities, the Company's ability to execute the licensing partnership with Intesa Sanpaolo, the Offering and the use of proceeds of the Offering. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight Inc., as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the Company's technology and revenue generation; risks associated with operation in the technology sector; ability to successfully integrate new technology and employees; foreign operations risks; and other risks inherent in the technology industry. Although AnalytixInsight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. AnalytixInsight does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.