TORONTO, ONTARIO--(Marketwired - March 3, 2016) -
Big Data analytics company, AnalytixInsight Inc. (TSX VENTURE:ALY) (the "Company" or "AnalytixInsight") this week is pleased to provide a business update on its subsidiary Marketwall S.r.L "MarketWall") as well announce changes to the MarketWall and AnalytixInsight Board of Directors. The Company is pleased to announce significant progress in its previously announced multi-year licensing relationship with Grupo Intesa Sanpaolo ("Intesa Sanpaolo"), wherein MarketWall will be integrated with Intesa Sanpaolo's retail banking portals. Intesa Sanpaolo is among the top banking groups in Europe with a market capitalization of approximately EUR54.2 billion (approximately CAD$78 billion). The licensing partnership is expected to provide a minimum revenue stream of CAD$2 million annually (minimum CAD$10 mill over a 5 year period). As part of this initiative, MarketWall will provide a custom version of the MarketWall App to Intesa Sanpaolo's approximately 20 million retail customers and will also work with Intesa Sanpaolo to closely integrate the MarketWall App with Intesa Sanpaolo's retail banking portals. The commercial launch of the initiative is expected to be in January 2017 and on successful completion the MarketWall App will provide a range of financial services through Intesa Sanpaolo's mobile platform. MarketWall will also develop seamless trading services fully integrated to the banking platform in six countries where the partnership is exclusive - Italy, Slovakia, Slovenia, Croatia, Hungary and Serbia. As a part of this strategic partnership, Marketwall has increased the size of its Board to five members and appointed Prakash Hariharan, Chairman of AnalytixInsight, and Marco Roscio Ricon, CEO of Marketwall, to its Board. Mr. Ricon will also serve as Chairman of MarketWall's Board of Directors. The Company also announces the resignation of board members Richard Greco, Jr. and Gregg Schoenberg, effective immediately. "The Company has benefitted from their expertise over the past 2 years and we wish them the best in their future endeavors," said Chaith Kondragunta, CEO of AnalytixInsight.
On behalf of the Board of Directors of ANALYTIXINSIGHT INC.
Prakash Hariharan, Chairman
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight Inc's technology platform helps transform data into narratives. The Company's online portal www.capitalcube.com and mobile platform Marketwall (www.marketwall.com) provide high-quality financial research and content for investors, information providers, finance portals and media. The Company's disruptive technology algorithmically analyzes market price data and regulatory filings to create insightful, actionable narratives and research on approximately 50,000 global companies and ETFs - all available as a cloud-based, SAAS offering. This platform capability is extensible to other asset classes and sectors to generate insightful research reports.
CapitalCube and Marketwall have existing business relationships with leading global financial and media institutions. For more information about CapitalCube visit www.capitalcube.com. For more information about Marketwall visit www.marketwall.com.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding ongoing and future partnership; the potential for partnerships to create an expanded user base and additional revenues for AnalytixInsight; the growth of the Company's business operations; the use of the Company's content by various parties; and the use by certain parties of CapitalCube and Marketwall App. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight Inc., as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the Company's technology and revenue generation; risks associated with operation in the technology sector; ability to successfully integrate new technology and employees; foreign operations risks; and other risks inherent in the technology industry. Although AnalytixInsight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. AnalytixInsight does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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