TORONTO, ONTARIO--(Marketwired - Aug. 4, 2016) - Big data analytics company AnalytixInsight Inc. (the "Company") (TSX VENTURE:ALY) is pleased to announce that its subsidiary, MarketWall s.r.L ("MarketWall"), has entered into a contract with Intesa Sanpaolo to develop a new mobile-banking platform for Intesa Sanpaolo as part of Intesa Sanpaolo's continuing FinTech developments for front-end banking and trading applications.
This mobile-banking & web development contract is valued at approximately EUR1.4 million (approximately CAD $2 million) plus annual maintenance fees and is in addition to the previously announced multi-year licensing partnership with Intesa Sanpaolo (valued at approximately CAD $10 million over five years).
MarketWall will provide a custom version of the MarketWall App to Intesa Sanpaolo's approximately 20 million retail customers. MarketWall will also work with Intesa Sanpaolo to integrate the MarketWall App with their retail banking portals and develop seamless trading services in six countries where the partnership is exclusive - Italy, Slovakia, Slovenia, Croatia, Hungary and Serbia. The first version of this App is expected to launch in the first quarter of 2017.
On behalf of the Board of Directors of ANALYTIXINSIGHT INC.
Prakash Hariharan, Chairman
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight Inc.'s technology platform helps transform data into narratives. The Company's online portal, CapitalCube, and mobile platform. MarketWall, provide high-quality financial research and content for investors, information providers, finance portals and media. The Company's disruptive technology algorithmically analyzes market price data and regulatory filings to create insightful, actionable narratives and research on approximately 50,000 global companies and ETFs - all available as a cloud-based, SAAS offering. This platform capability is extensible to other asset classes and sectors to generate insightful research reports.
CapitalCube and MarketWall have existing business relationships with leading global financial and media institutions. For more information about CapitalCube visit www.capitalcube.com. For more information about MarketWall visit www.marketwall.com.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the partnership with Intesa Sanpaolo; contractual arrangements with Intesa Sanpaolo; the growth of the Company's business operations; the revenue stream to be received by the Company; the use of the Company's content by various parties; and the use by certain parties of CapitalCube and Marketwall App. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight Inc., as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the Company's technology and revenue generation; risks associated with operation in the technology sector; ability to successfully integrate new technology and employees; foreign operations risks; and other risks inherent in the technology industry. Although AnalytixInsight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. AnalytixInsight does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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