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
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.
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