PR Newswire
PHILADELPHIA, Aug. 23, 2023
Strategic Acquisition Estimated to Realize up to 38 Million in Revenue over Next 36 Months
PHILADELPHIA, Aug. 23, 2023 /PRNewswire/ -- VSBLTY Groupe Technologies Corp. (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt 5VS) ("VSBLTY"), a leading AI software provider of security and retail analytics technology has signed a non-binding LOI to acquire Shelf Nine, https://www.shelfnine.com, a leader in retail media networks, providing brands and retailers specifically targeted digital media advertising and other customer communications content delivered at the point of purchase.
The companies expect to finalize their definitive agreement within the next 30 days once they complete their due diligence. The acquisition is primarily a stock deal with the majority of the purchase being incentive stock based on Shelf Nine achieving certain revenue targets focused in the top 20 media markets over the next three years.
"This acquisition is synergistic with VSBLTY's vision of the retail advertising segment," emphasized VSBLTY Co-founder & CEO Jay Hutton. "Shelf Nine's integration with our computer vision analytics technology is a win-win for both companies. Operating as a wholly owned subsidiary of VSBLTY, Shelf Nine and VSBLTY have the opportunity to further leverage each company's core competencies and further penetrate the retail media market estimated to be worth $160 billion by 2027. In addition to both companies benefiting from recurring SaaS fees, they also generate added revenue from content development and media sales", Hutton added.
About Shelf Nine
Shelf Nine is a premier digital media and content network providing brands and retailers specifically targeted customer communication delivered at the point of purchase. Building a retail ad network brings more ad revenue to the store owner and allows better control of content and integrated marketing programs. Advertisers are increasing investments on digital platforms that deliver ads to consumers while shopping. The 1:1 retail environment is the best to target consumers. Digital content in the store provides the optimal delivery of ad impressions while also increasing the shopper experience and the basket ring for the retailer. http://www.shelfnine.com
Investor Relations
Harbor Access
Jonathan Paterson, 475-477-9401
[email protected]
Graham Farrell, +1-416-842-9003
[email protected]
CONTACT: Linda Rosanio, 609-472-0877
[email protected]
About VSBLTY (http://vsblty.net/)
Headquartered in Philadelphia, VSBLTY (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) ("VSBLTY") is the world leader in Artificial Intelligence and real time interpretation of what a CCTV and other cameras see. By utilizing facial recognition, age and gender, VSBLTY's proprietary technology can effectively enhance retail brand engagement and measurement through customized ads on in-store digital displays at point of purchase in real time. This technology has proven to increase brand sales by over 25%. The firm is also recognized for its leadership role in the growing "Store as a Medium" movement that enables brands to reach customers with paid media ads when and where buying decisions are being made while producing a new revenue stream for retailers.
Using its proprietary AI software, VSBLTY has also developed a range of security products that include not only facial recognition but weapon recognition utilizing modern surveillance cameras and legacy CCTV cameras. VSBLTY has the capability to create a proactive security system rather than a reactive security system, providing early warning of threats that can save lives.
View original content to download multimedia:https://www.prnewswire.com/news-releases/vsblty-signs-loi-to-acquire-shelf-nine-4500-screen-network-301907574.html
SOURCE VSBLTY
