CEO update
Dear shareholders,
This is the first letter I write under the logo of SpectrumOne. I am happy we finally changed the name to SpectrumOne and that we now can work under one umbrella within the same group. A name that represents what we do and puts the history of this company behind us.
It has been a while since I last sent out an updated CEO letter, our workload have been overwhelming, with all of us having a great deal to do along with many important decisions to take. Since the last time I communicated to the market some major happenings should be highlighted.
- We have finally completed our acquisition of Cloud Explorers in Norway, with the cooperation just going from strength to strength. The platform has grown rapidly in the last period now with many new and exciting features introduced, which are very appealing to our current and new customers.
- The financial plan for SpectrumOne issuing warrants is now decided upon, the implementation timing has been somewhat adjusted but overall the plan is set as initially intended. This will grant us additional muscles, supporting our growth journey and ensuring that our plan for going globally is financially secured.
- Furthermore, we have acquired another company. Qbim is a company we have been in discussion with during the last couple of months and I am really happy to report we finally closed the acquisition on the conditions that have been announced. Having Qbim accepting shares as a part payment for the share price of SEK 1.5 is a tremendously strong signal to the market as to what is to come, along with the potential Qbim foresees in our merger. Qbim has an extremely strong portfolio of products, one of which being a stand-alone product, well suited for being bundled, and placed in a separate company. This could potentially be valued and sold for more than the whole of SpectrumOne´s current market value. This project is now being analyzed and further information will be communicated as the development proceeds.
- Bizwell has experienced some really good success the last month. A couple of weeks ago Bizwell won the public procurement from Konjunkturinstitutet in Sweden. A procurement asking for a provider of data in order for Konjunkturinstitutet to support the forecasts and financial measures taken by the government and Folkhälsomyndigheten. This is the first win of a public procurement for BizWell, positioning the company alongside the bigger and more established marked data providers in the Nordics. Additionally, we have decided upon an investment plan for BizWell in order to increase market share by focusing on larger customers, increasing ad spend on Google and signing a contract with the campaign creators Reaktion to further reach out to potential customers.
- After Artisti AS had participated in a thorough product validation and trial period, they decided to sign up as a customer. They have now also signed up as partner of SpectrumOne making them a truly engaged and dedicated partner to market and sell our product to their customers. A strong evidence that our customers love our product.
Covid-19
The pandemic of the novel coronavirus has set the world in an unprecedented state. Many industries are suffering heavily from the decreasing demand from customers. The worldscountries have set up several support packages and financial stimulus in order to try to support their industries. Some industries have experienced unmatched decrease in demand while others have seen a change in their customers behavior and thus developed new ways to their business.
Even if we have experienced some of our customers taking longer time to decide, we haven’t at this time seen any decline in sales or interest. In fact in many cases we see now it has become easier to reach our clients for meetings via video conference. This is proving to be much more efficient and enables our sales team greatly. We therefore do not see any need for the slowing down of our pace in business. As per today we have not asked for any of the incentives from the government nor have we been required to reduce or decrease any off our personal. On the contrary, we have started recruitment of an additional five new salespeople to our group.
As the pandemic goes on and the search for different infection data and the analysis of it becomes more and more important, Google and Facebook is competing to be the best providers of the most relevant data. We are looking in to how SpectrumOne can be the tool for doing those analysis and visualizing the findings in an intuitive and easily accessible way.
I will make sure that my next update won´t take as long as this one and I want to thank you all for your patience and hoping you will be with us on this exciting journey.
For further information contact:
Hosni Teque-Omeirat
CEO
+46 70 225 18 77
hosni@spectrumone.com
Certified Adviser:
Mangold Fondkommission AB (556585-1267)
Box 55 691 102 15 Stockholm
Telefon: +46 8 503 015 50
ca@mangold.se
www.mangold.se
About SpectrumOne AB
SpectrumOne is a leading technology company delivering an advanced Data Management, Analytics & Communications platform suite. Offered in a SaaS online service shipping with rich market data from various professional providers, SpectrumOne provides a unique solution to many leading actors across industry segments in various countries. Enabling clients with fast and easy access to data insight and visualisation coupled with powerful search, segmentation and mapping features. SpectrumOne allows data to be quickly enabled and operationalised, driving activities from customer communication to data science supporting business analysis, strategy and growth. All of which can be enabled literally the same day with immediate results. SpectrumOne´s headquarter is based in Stockholm, Sweden, responsible for Nordic sales and strategy, with additional sales and business development located in Oslo, Norway. SpectrumOne is listed on Nasdaq First North Growth Market in Stockholm and Merkur Market in Oslo.