iSIGN Media Announces a Letter of Intent to Acquire Coxcom Inc.
TORONTO, April 15, 2019 (GLOBE NEWSWIRE) -- iSIGN Media Solutions Inc. (“iSIGN” or “Company”) (TSX-V: ISD) (OTC: ISDSF), a leading provider of interactive mobile proximity marketing and public security alert solutions announced today that the Company has signed a non-binding Letter of Intent (“LOI”) to acquire all of the issued and outstanding shares of Coxcom Inc. (“Coxcom”) in form of cash and iSIGN shares
Coxcom, established in 1998, is a successful technology integration partner to leading North American digital signage solution providers, equipment manufacturers and visual network operators, including end-users, providing a single vendor offering on all aspects of planning and deployment inclusive of audio installation and structured cabling. Coxcom has recently added a major international fast food chain to their existing client base.
This strategic acquisition provides growth opportunities to both companies through access to each others’ clients and contacts. Additionally, Coxcom will be able to offer iSIGN’s patented technology to their existing and future clients to provide accountability and measurement for the various advertising campaigns running on their clients’ digital signage networks. The expansion of a client base for iSIGN’s technology will provide additional sources of data accumulation that increases the variety of data and locations sources, thus increasing the opportunity for data sales and increasing the return on investment.
“We consider this to be an excellent strategic acquisition that will give iSIGN an immediate added revenue base and cash flow, while providing expanded opportunities for future growth including from data sales,” stated Mr. Joe Kozar, iSIGN’s Chief Executive Officer.
“iSIGN’s technology is intriguing and exciting,” stated Mr. Steve Cockell, Coxcom’s President. “We believe that this patented cutting-edge technology with its various delivery methods will be of great interest to our clients and will provide them with ways to easily expand their advertising reach and resulting revenues.”
Under the terms of the LOI, the Share Purchase Agreement is to be delivered on or before May 15, 2019.
The transaction is subject to executing a purchase agreement and receiving TSX Venture Exchange approval for the transaction.
About iSIGN MediaiSIGN, a Canadian company based in Toronto, Ontario is a data-focused, software-as-a-service (SaaS) company that is a pioneering leader in the areas of location-based security alert messaging and proximity marketing utilizing Bluetooth® and Wi-Fi connectivity in complete privacy. Creators of the Smart suite of products, a patented interactive proximity marketing technology, iSIGN enables the delivery of messages to mobile devices in proximity, with real-time reporting and analytics on a variety of metrics. Partners include IBM, Keyser Retail Solutions, Baylor University, Verizon Wireless, TELUS, and Mtrex Network Solutions. www.isignmedia.com
About Coxcom Inc.Coxcom Inc. for over 21 years has successfully provided integrated professional solutions in the fields of Audio-Visual/Digital Signage/Structured Cabling and access Control, providing a single vendor offering on all aspects for planning and deployment. Coxcom has enjoyed solid growth and established long term clients which it attributes to their clear focus on customer satisfaction; consistency in quality of workmanship and reliability of service and support. Coxcom is a strategic business partner with a diverse group of small, medium and large sized companies. Coxcom continues to be successful at building and maintaining long-term strategic relationships with its customers and suppliers. www.coxcominc.ca
Forward-Looking StatementsThis 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.
© 2019 iSIGN Media Solutions Inc. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.
Joe KozariSIGN Media Solutions Inc. email@example.com
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