iSIGN Media Announces an Agreement in Principle to Acquire POS Canada
May 28 2014 - 6:30AM
Marketwired
iSIGN Media Announces an Agreement in Principle to Acquire POS
Canada
TORONTO, ONTARIO--(Marketwired - May 28, 2014) - iSIGN Media
Solutions Inc. ("iSIGN" or "Company") (TSX-VENTURE:ISD)
(OTCQX:ISDSF), a leading provider of interactive mobile advertising
solutions that serves advertisers, manufacturers, retailers and
advertising agencies throughout North America, today announced that
it has entered into an Memorandum of Agreement ("Agreement") to
acquire all of the issued and outstanding shares of POS Canada
("POS").
Under the terms of the Agreement which is non-binding, iSIGN
will acquire all outstanding shares of POS Canada on or before July
31, 2014. Pursuant to the Agreement iSIGN will now complete its due
diligence process and if satisfactory, will proceed to negotiate
the terms of a definitive Purchase Agreement, The acquisition is
subject to executing a legally binding Purchase Agreement between
the parties and to obtaining TSX Venture Exchange approval.
The acquisition of POS will provide the Company with an
immediate expanded source of revenue from POS' existing base of
approximately 2,000 clients in the high-end corporate hospitality
and retail industries and provides iSIGN with an immediate client
and data base for its Point of Sales Data Acquisition ("PDAQ")
solution and hardware.
The PDAQ solution results in the Company being able to provide a
truly unique offering that joins POS' leading edge point-of-sale
hardware and software with iSIGN's proximity-based Smart Antenna
and Smart Player hardware, which broadcasts to mobile devices, as
well as the ability to manage digital signage. The Integrated data
from point-of-sale, digital signage and proximity mobile
broadcasting assets will be the first of its kind in the world,
providing information from a range of sources in real-time to
advertisers, brands and the hospitality and retail industries. It
further allows the Company to marry point-of-sale data with data
gathered from mobile interactions to provide a more enhanced and
valuable inventory of data that the Company expects will be of
great interest to clients, advertisers and brands.
iSIGN's data partners and clients consider the ability to
review, compare and potentially combine insights from mobile
interaction data with those derived from point-of-sale
installations to be of prime importance to the Company's ability to
grow its data sales business and to increase its data sales pricing
based on significant additional value.
Following the completion of the acquisition of POS Canada by
iSIGN, iSIGN intends to file additional patent applications,
ancillary to its already granted patent Application No. 11/986,650,
Art Unit 3693.
iSIGN's application for a patent on its "method and system for
out-of-home proximity marketing and for delivering awareness
information" was initially filed November 27, 2007 and published on
April 17, 2008. The additional patent application will be requested
for iSIGN's unique method of collecting and integrating mobile
proximity data, customer loyalty and data base data, with POS data,
and the resulting insights. This intellectual property will be
monetized and provide further sources of revenue for iSIGN.
Both parties are committed to finalizing the acquisition and
believe that it will result in a strong company uniquely positioned
to take advantage of their mutual and combined strengths to the
advantage of both its clients and shareholders.
About iSIGN Media
Since 2007, iSIGN has been developing multiplatform advertising
and marketing solutions for brands to better attract, engage and
retain customers through their mobile devices. The data and SaaS
(software as a service) company collects and analyzes shopper
preferences so that brands can deliver targeted messaging and
personalized offers to consumers' mobile devices, in-location and
in real-time. The company's interactive proximity-marketing
technology is capable of gathering average price points, typical
purchases, in-store dwell times and other shopper metrics to
deliver business intelligence and insights into emerging consumer
behaviors that can help brands make better business decisions and
measure their marketing efforts. Utilizing Bluetooth™ and Wi-Fi,
and location-aware technologies to deliver relevant and timely
messaging to any screen or mobile device, iSIGN delivers rich
media, permission-based messages free to consumers that can drive
immediate brand engagement, increased customer loyalty and deliver
higher ROI on marketing dollars spent. Headquartered in Richmond
Hill, Ontario, with R&D and customer support operations in
Vancouver, BC and Tampa, FL, the Company has also grown to become
the largest owner/operator of in-store digital media in Canada with
5,600 digital signs in about 1,400 locations. Partners include:
IBM, Keyser Retail Solutions, Baylor University, Verizon Wireless,
TELUS and AOpen America Inc., with solution distribution by
GraphicMedia, Inc. and BlueStar Inc. www.isignmedia.com
About POS Canada
POS Canada is a privately held Canadian company and, since 1989,
has traditionally supplied the high-end corporate hospitality and
retail industry with leading edge point-of-sale hardware and
software. POS Canada is a full service provider of advanced
technology support services, system customization, installations
and ongoing systems support and customer education. Over the years,
POS has grown from a small firm to a full service value added
re-seller with direct offices in Toronto and Ottawa, Ontario and
Calgary, Alberta, Canada. POS also maintains a dealer network
providing coverage throughout Canada as well as parts of the United
States and is one of the leading distributors in Canada of
hospitality and retail point-of-sales systems supporting clients
across Canada. www.poscanada.com
Forward-Looking Statements
This news release may include certain forward-looking statements
that are based upon current expectations, which involve risks and
uncertainties associated with iSIGN Media's business and the
environment in which the business operates. Any statements
contained herein that are not statements of historical facts may be
deemed to be forward-looking, including those identified by the
expressions "anticipate", "believe", "plan", "estimate", "expect",
"intend", and similar expressions to the extent they relate to the
Company or its management. The forward-looking statements are not
historical facts, but reflect iSIGN Media's current expectations
regarding future results or events. These forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results or events to differ materially from
current expectations. iSIGN Media assumes no obligation to update
the forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward-looking
statements.
© 2014 iSIGN Media Solutions Inc. All Rights Reserved. All other
trademarks and trade names are the property of their respective
owners.
Neither the TSX Venture Exchange nor Its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility or accuracy of this
release.
Media contact:Emily StorzSSPR267-758-2642 (direct)609-351-3592
(mobile)estorz@sspr.comInvestor Contact:Trevor BrucatoRB Milestone
Group1-212-661-7771 (office)tbrucato@rbmilestone.comCompany
contacts:Alex RomanoviSIGN Mediaalex@isignmedia.comBruce
HendersonPOS CanadaBHenderson@poscanada.com
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