- Company expects to achieve record
revenues in Q4 2018 -
TORONTO and NEW YORK, Sept. 10,
2018 /CNW/ - AcuityAds Holdings Inc. (TSXV:AT) ("AcuityAds"
or the "Company"), a technology leader that provides targeted
digital media solutions by leveraging its proprietary Artificial
Intelligence (AI) technology to enable advertisers to connect
intelligently with audiences across digital advertising campaigns,
is pleased to announce that it has completed a strategic
transaction with an Artificial Intelligence adtech company (the "AI
Company") based in the United
States.
As part of this strategic transaction, AcuityAds has hired
certain of the sales and sales related personnel of the AI Company,
acquired certain customer relationships and received positive net
working capital from the AI Company. Consideration to the AI
Company will be in the form of a percentage of net revenue earned
by those hired sales personnel for a period of 6 months from the
date of closing of the strategic transaction.
"AcuityAds has already built the technology and infrastructure
to allow for significant sales growth and increasing operating
leverage in our business. This strategic transaction should allow
us to enhance our sales trajectory by adding a sizeable selling
team with extensive industry and AI experience, while minimizing
the necessity for incremental technology and infrastructure," said
Tal Hayek, CEO and Co-Founder at
AcuityAds. "Moreover, with the addition of this team
alongside our current momentum, we believe we are well positioned
to achieve record revenue in the fourth quarter of this year."
About AcuityAds:
AcuityAds is a leading technology
company that provides marketers a powerful and holistic solution
for digital advertising across all ad formats and screens to
amplify reach and Share of Attention® throughout the customer
journey. Via its unique, data-driven insights, real-time analytics
and industry-leading activation platform based on proprietary
Artificial Intelligence technology, AcuityAds leverages an
integrated ecosystem of partners for data, inventory, brand
safety and fraud prevention, offering unparalleled, trusted
solutions that the most demanding marketers require to
be successful in the digital era.
AcuityAds is headquartered in Toronto with offices throughout the U.S.,
Europe and Latin America. For more information,
visit AcuityAds.com.
Disclaimer in regards to Forward-looking Statements
Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable securities laws.
Forward-looking statements include, but are not limited to,
statements with respect to the results following completion of the
acquisition of the AI Company. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management at this time, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or
achievement of the Company to be materially different from any
future results, performance or achievements express or implied by
such forward-looking statements. Such factors include, among other
things, the net revenue earned by the hired sales personnel of the
AI Company in the 6 month period following closing of the strategic
transaction. Investors are cautioned not to put undue reliance on
forward-looking statements. Except as required by law, AcuityAds
does not intend, and undertakes no obligation, to update any
forward-looking statements to reflect, in particular, new
information or future events.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE AcuityAds Inc.
