AcuityAds Completes Strategic Transaction to Secure Certain Sales Personnel and Related Assets of a U.S. Based Artificial Intelligence Company
TORONTO, ON; NEW YORK, NY, September 10, 2018
Company expects to achieve record revenues in Q4 2018
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 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.”
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.
For further information: Tal Hayek, Chief Executive Officer, AcuityAds Holdings Inc., 416-218-9888, firstname.lastname@example.org; Jonathan Pollack, Chief Financial Officer, AcuityAds Holdings Inc., 416-218-9888, email@example.com; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, firstname.lastname@example.org