REG - Silver Bullet Data - Acquisition

Silver Bullet Data ServicesAnnouncement

11/11/2024 07:00

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RNS Number : 6147L  Silver Bullet Data Services Grp PLC  11 November 2024

11 November 2024

Silver Bullet Data Services Group plc

("Silverbullet" or the "Company", or, together with its subsidiaries, the
"Group")

Acquisition

 

Silverbullet (AIM: SBDS), a provider of AI driven digital transformation
services and products, is pleased to announce that it has acquired certain
intellectual property rights (IPR) from Spore London Limited t/a Codec.AI (in
administration) (Codec AI) for a cash consideration of £50,000 payable in two
tranches, plus an earnout of 10% of net revenues generated from the technology
up to 31 December 2025.

 

Codec AI was a contextual AI insights and targeting data company that
extracted consumer behaviour from social platforms such as Instagram, X
(formerly twitter) YouTube and Facebook globally. Codec AI's IPR was used to
provide actionable insights for content and creative brand engagements to
improve customer experience and drive improved marketing ROI using social and
influencer contextual data. Codec AI had a global footprint with international
clients which included Diageo, Unilever, Mars and Procter & Gamble.

 

The acquisition of Codec AI's IPR provides significant opportunities to
Silverbullet's first party data services and will accelerate the Group's 4D
AI technology platform. The enhanced products will create clear upsell
opportunities to extend Silverbullet's products and services and extend the
established Silverbullet global client base.

 

Ian James, Chief Executive, commented: "We are delighted to acquire Codec AI's
IPR which is an exciting opportunity for Silverbullet and is importantly
earnings enhancing and value accretive from day one. The new opportunities
will add significantly to both the Group's offering and existing client base
enabling 4D AI to provide a broader service."

 

For further information please contact:

 Silverbullet                                               via IFC
 Ian James (CEO) / Chris Ellis (CFO)

 Strand Hanson Limited - Financial and Nominated Adviser    0207 409 3494
 James Spinney / James Bellman / Robert Collins

 Zeus Capital Limited - Joint Broker                        0203 829 5000
 Simon Johnson / Jake Walker
 CMC Markets - Joint Broker                                 0203 003 8632
 Douglas Crippen

 IFC Advisory                                               020 3934 6630
 Graham Herring / Tim Metcalfe / Florence Chandler          07793 839 024

 

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