AnalytixInsight, Inc.
TSX VENTURE : ALY

March 04, 2014 07:30 ET

AnalytixInsight to Acquire OneUp Insights Inc.

- Acquisition enhances AnalytixInsight's capabilities in mobile applications in advance of the launch of partnership with Samsung; and

- Acquisition helps AnalytixInsight add social analytics to its Big Data Analytics Platform.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 4, 2014) - AnalytixInisight Inc. (the "Company" or "AnalytixInsight") (TSX VENTURE:ALY) and OneUp Insights Inc. ("OneUp") are pleased to announce the entering into of a letter of intent (the "Agreement") for the Company's acquisition of all of the issued and outstanding shares of OneUp.

Pursuant to the Agreement, the Company will issue 1,000,000 common shares of AnalytixInsight and pay $150,000 cash to the OneUp shareholders at closing, and deliver an additional 2,000,000 common shares of AnalytixInsight post closing; with 1,000,000 common shares of AnalytixInsight to be released on both the 6th and 9th month following the closing of the transaction with OneUp.

The acquisition is expected to close on or before April 30, 2014. Completion of the acquisition remains subject to TSX Venture Exchange approval and other customary closing conditions.

OneUp has assembled a suite of tools, desktop and mobile applications focused around data collection and social intelligence. OneUp technology has been integrated into partner networks with the goal being monetization, loyalty, social engagement and big-data insights. OneUp is currently developing a mobile marketplace suite aimed to disrupt user acquisition and engagement.

The signing of the Agreement marks another significant milestone in AnalytixInsight's high growth strategy of building unique social analytic layers on-top of its Big Data Analytics engine, to dive deeper into social intelligence using gamification and patent-pending data collection.

Chaith Kondragunta, CEO of AnalytixInsight, commented "OneUp's expertise in mobile applications will add a very unique dimension to our previously announced relationship with Samsung. In addition, OneUp's expertise in social analytics will add a very exciting extension to our product platform and allow us to offer in the near term the same value-added insight to social data as we currently do with financial and company data."

"OneUp is focused on marrying social intelligence within the B2B and B2B2C marketplaces. Integrating our technology with narratives within the AnalytixInsight network will allow both companies to achieve our shared vision on Big Data and analytics faster" said Marc Askanasi, President of OneUp.

On behalf of the Board of Directors of ANALYTIXINSIGHT INC.

Prakash Hariharan, Chairman

ABOUT ANALYTIXINSIGHT INC

AnalytixInsight Inc's Big Data Analytics platform helps transform data into narratives. The Company's online portal www.capitalcube.com provides 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 45,000 global companies and ETFs - all available as a cloud-based, SAAS offering. The Company's platform capability is extensible to other asset classes and sectors to generate insightful research reports.

CapitalCube currently has existing business relationships with leading global financial and media institutions. To find out more about CapitalCube's offerings, visit http://www.capitalcube.com.

CAUTIONARY NOTES

This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the transaction with OneUp and any regulatory approvals required. 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 the Company 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 actual results of the Company's business activities; regulatory risks; and other risks of the technology industry. Although the Company 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. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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 FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • AnalytixInisight Inc.
    Abha Dawesar
    (917) 345-7069