Victoria, British Columbia--(Newsfile Corp. - June 5, 2024) - Tiny Ltd. (TSXV: TINY) ("Tiny" or the "Company"), a Canadian holding company, today announced that it has completed its acquisition of MediaNet Solutions, Inc., ("MediaNet"), an Arizona based educational software business.
We are thrilled to be welcoming MediaNet and its employees to Tiny. The founder of MediaNet, Jeff Kline, brings a wealth of expertise in the special education software industry and has done a great job stewarding the company over the last two decades. We are excited to partner with him for the next phase of the business, with a plan to drive growth while delivering exceptional value to its customers.
MediaNet Overview
Founded in 1997, MediaNet has over 20 years of experience in special education management in Arizona. The core software product, e-IEP PRO, integrates all federal and state required reporting documents into a single system. The system allows teachers, district administrators, principals, and other service providers to track and log state required information, including SPED student data, individual education plans (IEPs), transportation documentation, referral forms, Medicaid session tracking and other critical items.
In addition to e-IEP PRO, MediaNet offers e-ELL PRO English Learner, which helps with the management of the English Learner process in Arizona and e-MTSS PRO System, which helps with the management of the Multi-Tiered System of Support process in Arizona.
MediaNet's quality solutions and top tier customer service has enabled them to serve approximately 580 districts and agencies in Arizona while maintaining a 98% gross customer retention rate over the last five years. We believe this is a testament to the quality of MediaNet's software and the service its employees provide.
Transaction Overview
The acquisition of MediaNet was completed in all cash by Tiny Capital (US) Ltd., a wholly owned subsidiary of Tiny Ltd.
The acquisition qualified as an "Exempt Transaction" within the meaning of TSX Venture Exchange Policy 5.3 and terms of the transaction were not disclosed.
About Tiny
Tiny is a Canadian-based investment company focused primarily on investing and acquiring majority stakes in businesses that it expects to hold over the long-term. The Company is structured to give maximum flexibility to operating management teams by maintaining a focus at the parent company level on only three areas: capital allocation, management, and incentives. This structure enables each company to run independently and focus on what they do best, within an incentive structure that is designed to drive results for both the operating business and ultimately for Tiny and its shareholders.
Tiny currently has three principle reporting segments: Digital Services, which provides design, engineering, brand positioning and marketing services to help companies of all sizes deliver premium web and mobile products; E-Commerce Platform, which is home to a complementary portfolio of recurring revenue software businesses that support merchants, as well as digital themes businesses that sell templates to Shopify merchants; and Creative Platform, which is comprised primarily of Dribbble, the leading social network for designers and digital creatives, as well as a premier online marketplace for digital assets such as fonts and templates.
For more information, please visit www.tiny.com or refer to the public disclosure documents available under Tiny's SEDAR+ profile at www.sedarplus.ca.
Company Contact:
David Charron
Chief Financial Officer
Phone: 416-418-3881
Email: david@tiny.com
Cautionary Note Regarding Forward-Looking Information:
This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and forward-looking statements in this press release includes, but is not limited to, information and statements regarding the Company's beliefs regarding the future prospects of MediaNet.
Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company.
Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: credit, liquidity and additional financing risks for the Company; stock market volatility; changes in e-commerce industry growth and trends; changes in the business activities, focus and plans of the Company; changes in general economic, business and political conditions, including challenging global financial conditions and the impact of the novel coronavirus pandemic; competition risks; potential conflicts of interest; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and the other risk factors more fully described in the Company's most recent MD&A as well as the list of risk factors in the Company's Annual Information Form dated April 30, 2024 available on SEDAR+ athttps://www.sedarplus.ca under the Company's profile.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211861
