TargetEveryone acquires 30% of Big Data company and enters into strategic cooperation
Cloud Explorers is an international, Oslo based, enterprise that during the last six years have been pioneers within the fields of Big Data and analytics platforms and infrastructure. The company has developed a very unique whilst at the same time simple to use Big Data user interface named PRISM. This in turn is integrated with a Data Lake solution, named Viking, they have established the last years. It is comprised of rich consumer and business data, that they can then easily connected to client's own transaction and communication. Enabling Analytic and Data driven communication.
Cloud Explorers are currently six employees and growing fast, with many customers across several industries such as Bisnode, Kantar TNS, EU Parliament (via Kantar Public), Continental, Porsche, Audi and Egmont Publishing to name just few.
TargetEveryone have today signed an agreement with the owner of Cloud Explorers to acquire 75,000 shares in Cloud Explorers AS. This corresponds to 30 per cent of the total ownership and votes.
On the closing date TargetEveryone shall pay NOK 4.5 million in cash and also issue 1.5 million new shares at a price of SEK 5.01 a piece. The owners of Cloud Explorer are committed to not realize the shares in TargetEveryone during the coming twelve months.
In addition to the acquisition, the parties have agreed to enter into a strategic cooperation where Cloud Explorers service, PRISM and Viking, shall be integrated into the TargetEveryone platform and offering. The founder of Cloud Explorers, Stephen Karl Ranson, shall also take the position as group CTO in TargetEveryone.
"This is an extraordinary and important deal for TargetEveryone", says Bjorn Forslund, founder and CEO in TargetEveryone. "With this acquisition and the co-operation, we will have access to leading and vital technique and a top-notch knowledge that we in crucial way can strengthen our own product and services.
"It is our opinion that TargetEveryone and Cloud Explorers together create a multitude of strategic synergies and opportunities", says Stephen Karl Ranson the CEO. "The deal enables advanced data and analysis driven communication that includes broader numbers of channels than we both can reach by our own today." The closing date is set to December 31, 2017, after a due diligence has taken place and been approved by the purchaser.
Stockholm November 20, 2017
For further information, please contact
Bjorn Forslund, CEO TargetEveryone, bjorn@targeteveryone.com, +47 484 83 838
Stephen Ranson, CEO Cloud Explorers AS, skranson@cloudexplorers.com
TargetEveryone AB (publ) is obligated to publish this information under the EU Market Abuse Regulation. The information was provided by the above contact person's auspices, for publication on November 20, 2017 at 08.15 a.m. CET.
About TargetEveryone
TargetEveryone is listed on Nasdaq First North Sweden and started ten years ago in the Nordic entrepreneurial era. Today TargetEveryone has customers and partners in over 80 countries and 45 employees at offices in Stockholm, Oslo, Lisabon, Philadelphia and Indian Chandigarh. www.targeteveryone.com
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