We are excited at the prospect of providing a broader and deeper array of digital marketing solutions to our valued customers and partners. We view this alignment as a means to enhance our current offering, providing our clients with the most technologically advanced products and services to meet and exceed their event, engagement and CRM goals
Ottawa, Canada (PRWEB) September 23, 2008
In-Touch Survey Systems Ltd. ("In-Touch" TSX-Venture: INX) announces the acquisition of NCI Mobility LLP ("NCI") of Chicago, IL, a leading provider of customized and branded consumer data capture and mobile marketing applications. The acquisition of NCI establishes a solid platform for In-Touch's growth strategy of investing in technology to further enhance the value of our offering to clients.
Privately held, NCI was founded in 1995 and currently serves clients in North America. NCI has earned a solid reputation as one of the leading providers of event marketing technology solutions and maintains a reputable client base. Six employees of NCI will continue their employment with In-Touch, including four sales people and two employees in client operations.
NCI will be acquired for 670,000 common shares of In-Touch and not the previously announced 1,222,000 common shares. The cash earn-out provisions remain the same with the assumption of certain equipment leases and a 36 month earnout based on the performance of the business to a maximum aggregate payment of $750,000. There are no commission or brokerage fees payable. The transaction remains subject to regulatory and Exchange approval.
"I am extremely excited about the future of our robust event marketing solution, accelerated by this acquisition. Our customers will reap the benefits of this transaction", said Michael Gaffney CEO.
"We are excited at the prospect of providing a broader and deeper array of digital marketing solutions to our valued customers and partners. We view this alignment as a means to enhance our current offering, providing our clients with the most technologically advanced products and services to meet and exceed their event, engagement and CRM goals", said David Perlmutter, Sr. VP, NCI.
"With minimal dilution for shareholders, this transaction will provide additional momentum for our short term goal of reaching $2.5 million in quarterly revenue in 2009. With this new sales presence in Chicago we are very excited to add another building block on our goal of 30-40% annual growth through a combination of organic growth and acquisition", said Gaffney.
Founded in 1992, In-Touch provides integrated solutions for market and customer research, custom data capture and mobile marketing for global enterprise customers. Our commitment to effective solutions for retail, finance, services, automotive and hospitality industries delivers a greater return on investment from corporate marketing and operations budgets. Headquartered in Ottawa, with regional offices in Chicago, Minneapolis, Toronto and Montreal, In-Touch has earned a solid reputation for dedicated customer support and advanced professional services. For more information, visit http://www.intouchsurvey.com.
For more information:
Director of Marketing
kmcnaughton @ intouchsurvey.com
The TSX Venture Exchange has not reviewed the foregoing and has neither approved or disapproved the contents of this press release.