SOURCE: iPerceptions Inc.

November 19, 2007 14:44 ET

Maintaining the Competitive Edge in Online Customer Satisfaction

iPerceptions Purchases REPINDEX Technology

NEW YORK, NY--(Marketwire - November 19, 2007) - iPerceptions (TSX-V: IPE), North America's leading online customer satisfaction research provider with the iPSI™ and webValidator® Continuous Listening Solutions, announced today that it has entered into a Memorandum of Understanding under which Repindex Ltd. has agreed to assign to iPerceptions all rights into proprietary technologies pertaining to open-ended text analysis (the "REPINDEX Technology") for the exclusive use in the field of Internet-based customer satisfaction and experience research (the "iPSI Field"), on a perpetual royalty free basis. The REPINDEX Technology open ended text analysis allows for the output of description and measurement of the main concept, clusters, positive and negative messages, sentiment, opinions, participant roles, and time orientation detected in verbatim feedback. REPINDEX Technology is based on linguistic research in Discourse Stream (DSA) and Corpus Linguistics. The process quantifies the messages in text flows and will give iPerceptions' clients systematic qualitative information on which to base decisions.

"iPerceptions Proprietary Satisfaction Index (iPSI) is the first and only satisfaction metric to structurally incorporate open-ended visitor commentary directly to quantitative measures that comprise the iPSI," says Jonathan Levitt, Vice President, Marketing at iPerceptions. "Investing in REPINDEX technology will allow iPerceptions to better analyze and report on verbatim responses and thus provide the company the flexibility to better adapt to clients' open-ended text analysis needs," says Mr. Levitt.

Both parties have signed a Memorandum of Understanding towards the assignment of the REPINDEX Technology for the iPSI Field (The "MOU") and iPerceptions is currently in the due diligence phase. The parties will enter into a definitive agreement by no later than December 31, 2007, or such other date mutually agreed upon by the parties in writing, whereby Repindex Ltd will make and deliver a full and complete tangible or physical copy of the REPINDEX Technology to iPerceptions and also transfer and assign ownership therein to iPerceptions and, furthermore, assign to iPerceptions any and all intangible and intellectual property rights relating to, and arising from, the REPINDEX Technology, such that iPerceptions will be the sole owner of any and all intellectual property rights relating to and arising from the REPINDEX Technology thereafter for exclusive use and exploitation thereof in the iPSI Field.

The MOU also states that Repindex Ltd will retain sole ownership in and to the original tangible or physical copy of the REPINDEX Technology outside of the iPSI Field, and it will have full and sole discretion to further develop, reproduce in all forms, modify, distribute, make derivative works, publicly perform, broadcast, translate, adapt, rent, import, license and enforce such copy outside the iPSI Field, such that Repindex Ltd will be the sole owner of any and all intangible or intellectual property rights relating to and arising from the original REPINDEX Technology thereafter for exclusive use and exploitation thereof outside the iPSI Field.

Under the MOU, Repindex Ltd also agreed to license to iPerceptions, on a perpetual, exclusive and royalty-free basis, any future improvements, modifications or developments it may make solely to the REPINDEX Technology for use in the iPSI Field.

Repindex Ltd and its owner have also agreed to enter into a non-compete agreement within the iPSI Field.

As consideration for the exclusive assignment of the REPINDEX Technology within the IPSI field, iPerceptions will issue, as fully paid and non-assessable shares, an aggregate of 375,000 common shares to Repindex Ltd as of the signature date of the definitive agreement. These shares will be subject to a conventional 6-month escrow period from the execution date of the MOU. iPerceptions has also agreed to reimburse the legal fees to be incurred by Repindex Ltd for this transaction, which fees are evaluated at $20,000.

Under the MOU, iPerceptions has also agreed to enter into a consultation agreement and an application development agreement with Repindex Ltd for services to further develop and integrate the technology into iPerceptions technology. iPerceptions will own any intellectual property, arising from these agreements.

"The fact that iPerceptions will own the technology in our field provides the added value that our existing clients can benefit from and future clients can be assured that iPerceptions is the leading online customer satisfaction research provider," says Jerry Tarasofsky, Chief Executive Officer, iPerceptions.

About the iPSI and the webValidator solution:

The iPerceptions Satisfaction Index (iPSI) is derived from satisfaction and experience data obtained from over three million actual visitors, on over 600 projects for Fortune 2000 websites, across ten verticals and contains over 45 million data points. It is the only index of its kind and is quickly becoming the standard for measuring online customer satisfaction. The webValidator Continuous Listening solution captures the voice of actual online customers in the context of an actual website visit helping companies learn more about their customers with satisfaction metrics that quickly turn learning into customer led decision-support. Using a perceptual framework to evaluate key elements of the visitor experience as well as predictive algorithms and modeling to identify those attributes that drive satisfaction, the resulting iPerceptions Satisfaction Index (iPSI) helps companies obtain a clear understanding of the key issues impacting satisfaction; purchase intent, transaction abandonment, customer loyalty and the likelihood customers will refer friends and associates to the site.

About iPerceptions:

iPerceptions is one of North America's leading web-focused attitudinal analytics providers. Its webValidator Continuous Listening solution and its Proprietary Satisfaction Index (iPSI), turn thousands of data points into easy-to-understand strategic and tactical decision support for website marketers. iPerceptions' clients include such well known brands as InterContinental Hotels, General Motors, Dell Computers, Hyundai, CompUSA, LG Electronics, Toshiba, Choice Hotels International, BMW and Hilton Hotels. iPerceptions has offices in New York, Toronto and Montreal.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Media information:
    Jonathan Levitt
    Vice-President Marketing
    iPerceptions Inc.
    Tel: 514-488-3600
    Fax: 514-484-2600

    Investor information:
    Jerry Tarasofsky
    Chief Executive Officer
    iPerceptions Inc.
    Tel: 514-488-3600
    Fax: 514-484-2600

    Martin Faucher
    Chief Financial Officer
    iPerceptions Inc.
    Tel : 514-488-3600
    Fax: 514-484-2600