Licences Social Loot Technology
Sydney, June 29, 2015 AEST (ABN Newswire) - Leading big data solutions company Invigor Group Limited (
ASX:IVO) ("Invigor") has agreed terms for a licence agreement with TUXXE Pty Ltd ("TUXXE") for the Social Loot technology platform.
Highlights:
- Invigor to receive $1.75m licence fee for Social Loot
- Invigor to receive scrip equating to a 17.5% interest in TUXXE in return for satisfaction of the licence fee
- TUXXE to leverage Social Loot platform
Under the arrangement Invigor grants TUXXE a perpetual, exclusive licence to use the Social Loot technology in exchange for a one-off licence fee of $1.75m. This will be satisfied by Invigor receiving ordinary shares representing 17.5% of TUXXE's issued capital, based on a $10m valuation of the business.
Currently in development, TUXXE will use existing social networks to generate impact and reward users through the simplicity of sharing everyday content. TUXXE is a private company controlled by Sydneybased entrepreneur Darian Pizem.
Invigor acquired the Social Loot technology as part of the acquisition of Global Group in July 2014. Social Loot was developed as a marketing platform allowing businesses to engage both their current and new customers through the key social media channels. It allows businesses to interact with their customers and gain reporting and insight into how they are being influenced through social media channels and the direct impact on sales.
Invigor's Executive Chairman Mr Gary Cohen said: "Social Loot is a very sophisticated platform for the social media space and the arrangement with TUXXE allows Invigor to realise value from this asset. The deal also provides an opportunity to share in the upside through value creation by TUXXE while focusing on our core business."
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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