- Intema (ITM) has signed a letter of intent to acquire Advertiise Technologies
- Intema will issue two million of its common shares and pay a maximum earnout of C$2 million for the acquisition
- Advertiise is a private corporation among the first movers in peer-to-peer advertising marketplace development
- For the year ended March 31, 2020, Advertiise’s total revenues were US$110,000 with net profits of US$46,000
- The companies intend to close the transaction on or before April 30, 2021
- Intema Solutions is a Canadian company that provides marketing and Internet-related consulting services
- Intema (ITM) is down 3.23 per cent and is currently trading at $0.45 per share
Intema (ITM) has signed a letter of intent to acquire Advertiise Technologies.
Advertiise is a private corporation among the first movers in peer-to-peer advertising marketplace development. It is also evolving the advertising industry via blockchain and AI technologies.
For the year ended March 31, 2020, Advertiise’s non-audited financial statements reported total revenues of US$110,000 and net profits of US$46,000.
As of March 31, 2021, Advertiise had total assets of US$263,000 and total liabilities of US$380,000.
To purchase Advertiise, Intema will issue two million of its common shares and pay a maximum earnout of C$2 million based on Advertiise achieving the following revenue projections:
- If in excess of C$7.5 million during the 12-month period following the closing of the acquisiton, Advertiise will receive C$1 million
- If in excess of C$11 million during the 12 to 24-month period following the closing of the acquisition, Advertiise will receive an additional C$1 million
Intema will allocate a minimum of C$2 million to Advertiise’s operations to help it achieve the projections.
Laurent Benezra, President and CEO of Intema, commented,
“Launched in February 2017, Advertiise, one of the Top 10 Canadian Startups (2017), now has over 25,000 users in over 40 countries worldwide. They have been ranked #1 in Google SEO for 3 years in a row and were selected as a finalist (2016) in StartUp Canada.
With Advertiise and their exceptional team joining the Intema family, we are creating an ecosystem that will allow us to attract, engage and retain advertisers, affiliates, publishers, players and casual gamers.”
Mark Vella, CEO of Advertiise Technologies, added,
“We are excited to join the Intema team and their portfolio of companies. This partnership aligns with our strategic vision in working alongside strong digital media assets. We strongly intend to keep pushing and continue scaling revenues and customer acquisition in 2021 with a dedicated focus on digital media assets within the esports media category.”
The companies intend to close the acquisition on or before April 30, 2021.
Intema Solutions is a Canadian company that provides marketing and Internet-related consulting services.
Intema (ITM) is down 3.23 per cent and is currently trading at $0.45 per share as of 2:05 pm ET.
