Cxense invests in mporium – supporting strategic partnership, technology adoption and distribution
Oslo, Norway – 21 March 2017 – Cxense ASA (Cxense) (OSE: CXENSE) today announced that it has made an investment of GBP 0.65 million in mporium Group plc (mporium) (AIM:MPM) through participation in a GBP 3.05 million private placement to strengthen mporium’s balance sheet and growth capacity.
In May 2015 Cxense and mporium formed a strategic partnership enabling mporium to upgrade its technology platform with Cxense advanced, real-time technology. As part of this strategic partnership between the two companies, mporium issued 100,000,000 shares to Cxense valued at 2p each. As consideration mporium received a three-year license agreement from Cxense, GBP 0.5 million in cash and 53,113 Cxense shares. On 18 July 2016, Cxense acquired a further 8,790,403 shares at a price per share of 7.5p in a private placement.
In the private placement announced today Cxense has subscribed a total of 4,333,000 shares, each at a price of 15p. After the investment, Cxense holds 113,123,403 shares in mporium with a weighted average subscription price of 2.9p. On 20 March 2017, the closing share price of mporium was 14.88p.
Over the last six months, Cxense and mporium have collaborated more closely to combine the Cxense data management- and personalization platform with mporium’s IMPACT solution for management of digital advertising campaigns on mobile devices. mporium will bring the combined offering to its direct customers as well as advertising agency partners, and the partners will together develop new markets for their combined offering.
“The mporium IMPACT solution cleverly identifies and acts on those micro-moments where digital advertising campaigns are the most effective, and thus helps to optimize the campaign efficiency and make the most out of an advertiser’s budget. Combining mporium’s IMPACT solution with Cxense’s real-time technology, brands and their advertising agencies obtain a more powerful technology solution at hand to achieve successful digital advertising campaigns on mobile devices” says Aleksander Øhrn, Cxense CTO.
“By combining Cxense’s data management and personalization technology with mporium IMPACT solution, mporium gets a one-stop-shop offering for advertising campaigns targeting mobile device users. The combined offering is uniquely powerful in its abilities to both capture and convert interest from users to increased sales. mporium will expand the distribution of Cxense’s technology and solutions, both through sales towards ecommerce direct customers, as well as through their digital agency partner channel. We do this because we want more revenue from strategic partnerships” says John T. Sviland, Cxense Chief Business Development Officer.
About mporium:
mporium, is a “mobile native” technology company that enables brands, and the agencies that serve them, to achieve better outcomes from digital advertising campaigns. Uniquely, mporium uses proprietary technology to achieve successful digital advertising campaigns on mobile devices, from brand advertising to direct response. Based in the UK, mporium Group plc is quoted on AIM, the junior market of the London Stock Exchange plc.
About Cxense:
Cxense (pronounced "see-sense") enables the world's leading media, e-commerce and consumer brands to take control of their audience data to deliver more engaging and personalized user experiences. Businesses using Cxense's advanced real-time analytics, data management (DMP), advertising, search and personalization technology gain more engaged users, increased digital revenue and higher sales conversions. Cxense is headquartered in Oslo, Norway, with offices worldwide.
Customers include the Wall Street Journal, USA Today (Gannett), Grupo Clarin, El Pais, Bonnier, Naspers, Ebay, The Golf Channel, PGA, NBA, NFL, ABC News, FOX Sports, Singapore Press Holdings, South China Morning Post, AEON, DMM, Rakuten and many more. For more information: www.cxense.com, Twitter: @Cxense. Cxense is listed on the Oslo Stock Exchange with the ticker 'CXENSE.'
Investor Relations Contact:
Jørgen Loeng, Chief Financial Officer
Email: jorgen.loeng@cxense.com
Mobile: +47 906 60 062
Technology Contact:
Aleksander Øhrn, Chief Technology Officer
Email: aleksander.ohrn@cxense.com
Mobile: +47 479 37 222