Company Name: Adveritas
Announcement Date: 14/06/2016
Announcement Category: Merger/acquisition
Announcement Content:
ACQUISITION MARKS THE ADVANCEMENT OF TECH FOCUSED STRATEGY
â Tech Mpire completes acquisition of Croatian software development company, Appenture
â The Appenture acquisition brings expertise that will help further drive Tech Mpireâs technology based competitive advantage, resulting in the ability to attract more advertising clients and affiliate partners
â The Companyâs technology strategy, centres around the development of its platform, nxusÂŽ. Immediate priorities include:
â Automation improvements that will reduce the account management of advertisers with lower demand volumes, providing a new âself-serveâ revenue opportunity from clients that were previously not viable
â Development of greater analytical capacity to leverage Tech Mpireâs substantial consumer and campaign data supply in order to improve visibility and performance
Tech Mpire Limited (ASX: TMP) (Tech Mpire or Company) is pleased to confirm the completion of the acquisition of Appenture d.o.o (Appenture). Through the acquisition, Tech Mpire has been able to benefit from an immediate and substantial increase in technical expertise which will accelerate the development of its technology platform, nxusÂŽ.
nxusÂŽ has afforded the Company superior functionality and proven to be cost effective against licensed, third party attribution solutions. In developing its own platform, Tech Mpire has been able to deliver value to its clients in the short term, as well as establish a foundation for continuous innovation.
Working in parallel, the Companyâs Australian and Croatian teams will continue to enhance the functionality of nxusÂŽ. Planned automation improvements will increase the efficiency and the scalability of the platform. As the Company grows, automation becomes increasingly important in managing the costs of human resources, allowing Tech Mpire to grow its client base at a greater rate than its headcount.
The introduction of self serve functionality will make the Companyâs offering economically feasible for advertisers with lower volumes of activity, as well as allowing risk averse advertisers to test the service before escalating their investment. Tech Mpireâs existing client base will benefit from a more efficient and effective service as a result of these automation developments, which the Company anticipates will lead to growing revenue.
In a typical month, nxusÂŽ aggregates data from billions of data points. In order to leverage this immense data supply, the Company will be establishing greater analytical capacity and furthering its machine learning implementations. This will enable the Company to enhance its targeting capabilities, exercise and automate more effective network quality controls, and develop a more comprehensive picture of the end users that Tech Mpireâs clients are targeting. Tech Mpire clients will benefit from increasingly granular marketing insight as the Company continues to build its technology based competitive advantage.
As part of consideration for the acquisition of Appenture, 33,334 ordinary shares and 66,666 performance rights will be issued on or around the end of June 2016.
Tech Mpire Managing Director, Luke Taylor said, âBy acquiring Appenture, we gained immediate access to a highly skilled team that was already familiar with our platform and business. The time and resources of growing a team like this organically, were drastically reduced, and the Croatian team has been able to provide value from the outset.
âAfter almost 12 months focusing on building network operations, the sales and business development functions of the network are maturing. This is enabling us to broaden our strategy with technology taking a more dominant role. Having grown the technology team in Australia and Croatia, we are in a great position to build on our strong platform foundations to aggressively expand and enrich our offering.â
-Ends-
For more information, please contact:
Media Enquiries
Asher Moses
Director, Media & Capital Partners
+61 438 008 616
[email protected]
Investor Enquiries
Luke Taylor
Managing Director, Tech Mpire Limited
+61 (0)8 9473 2500
[email protected]
Announcement URL: http://www.asx.com.au/asxpdf/20160614/pdf/437vw57kp5xfvc.pdf
About Adveritas:
Adveritas Limited (ASX:AV1) creates innovative software solutions that leverage big data to drive business performance.
Go to Company Profile for: Adveritas
Announcement Contact: [email protected]
