iSIGN Media Solutions Inc.(“iSIGN” or “Company”) announces that it has completed the purchase of 99.23% of the outstanding shares of Pinpoint Media Group Inc. and will obtain ownership of the remaining 0.77% over the next 4 weeks.
iSIGN issued 7,442,525 million iSIGN treasury shares in return for 99.23% of the issued and outstanding shares of Pinpoint. Five hundred thousand of the shares will be free trading and the remaining will be subject to a four-month hold period. Arrangements to acquire the remaining shares in exchange for the issuance of a further 57,475 iSIGN shares have been made. If such transaction is not completed in 2 weeks, a formal squeeze out will be initiated by iSIGN to complete its acquisition.
This transaction enables iSIGN to increase advertising revenue by enhancing the network with its data-gathering and data-measuring Interactive Marketing Solution 3.1 software across the entire 5,900-screen network. This will more than double the recently announced acquisition of a 2,500-screen digital-signage network in a German supermarket chain by Deutsche Telekom.
“We are excited by this acquisition and by the additional revenue opportunities that it will generate for us in both ad network sales and software licensing,” stated Alex Romanov, iSIGN’s Chief Executive Officer. “Our new convenience-store channel is in the fastest growing and profitable segment today, with frequent shoppers and opportunities to influence purchases and collect anonymous shopper data. Our network in the Mac’s stores is one of the largest in North America and will be the first in the world to have signage content broadcast to mobile phones of all customers within and in proximity of each of the 1,400 stores.”
Once the installation of the software in the convenience-store chain is complete, the company will have the world’s largest fully interactive digital signage network, reaching an average of 1.5 million consumers a day throughout its convenience-store network alone. The company expects that ownership of the networks will allow it to better demonstrate ROI to brands and retailers by helping them increase sales within the Couche-Tard environment, while showing the advantages that its IMS patent-pending software and its various reporting features can bring to all retailers and brand advertisers.
“One of the benefits of having this network, is that we can use it as a showcase to present to the advertising and retail communities the power that traditional digital signage, integrated with and enhanced by our IMS 3.1 software solution, has. In addition, we will be able to demonstrate the tremendous measurement and metric benefits that would be realized by other retailers’ brands and ad agencies,” added Mr. Romanov.
It is the company’s belief that by converting the existing networks into interactive digital signage networks, it will be able to fully maximize their inherent revenue potential and user base.
“With our IMS software, we will be able to satisfy advertisers’ demand for real-time metrics, which will translate into increased sales for the network,” said Mr. Romanov. “In addition, we will immediately be accelerating our sales efforts to advertising agencies and brands with our new advertising sales partners.”
“We believe that this unique interactive platform will become the model for all digital signage networks as well as for the mobile advertising industry,” added Mr. Romanov.
iSIGN and its partners envision a huge broadcasting network that will be able to message more than 1.5 million shoppers as well as others in proximity to signage locations per day. This will be one of the largest single audiences in Canada which will favorably compare to, or surpass, any cable and satellite system viewers, giving advertisers a larger audience with measurement instantly, at much lower costs than traditional TV, radio and print channels.
About iSIGN Media
iSIGN is a leading developer of location-based interactive proximity advertising solutions that deliver rich media, permission based messages, free of charge to cell phones using Bluetooth(R) connectivity, while providing Business Intelligence to the client. The Company’s patent-pending advertising platform combines the precision of direct marketing and the tracking potential of the Web to deliver more cost effective and ROI – driven advertising than is possible via print, radio and television. iSIGN is now the largest owner/operator of in-store digital media in Canada. With a national footprint, iSIGN reaches an average of 1.5 million consumers a day through our convenience store network, using state of the art technology to push relevant content. iSIGN’s network includes just over 5,600 digital faces in 1,400 plus convenience stores across Canada and additional digital faces in the City of Calgary’s parks and recreation building. iSIGN is based in Richmond Hill, Ontario with R&D and customer support operations in Vancouver, BC. iSIGN is a business partner of AOpen America Inc., having an OEM agreement for the embedding of its IMS software in AOpen’s digital media players and IBM, as their Solution Provider, POS All Models. iSIGN’s software solutions are also distributed by BlueStar Inc. to their network of Value Added Resellers. iSIGN is publicly traded in Toronto (TSX.V) under the symbol “ISD”. Additional information about iSIGN Media can be found at www.isignmedia.com
Source: iSIGN Media