Pinpoint Media Group Inc will be acquired by iSIGN Media Solutions Inc. According to an announcement made by iSIGN, the company has signed a purchase and sale agreement for the same. A new contract with Alimentation Couche-Tard Inc. is also being finalized by iSIGN. The contract is expected to be finalized within 45 days.
In exchange for all the issued and outstanding shares of Pinpoint, 7.5 million iSIGN treasury shares will be issued by iSIGN. While 500,000 will be available for free trading, a four month hold period will apply to the remaining 7 million shares. Advertising revenue will be increased by iSIGN through this purchase. Interactive Marketing Solution or IMS 3.1 software from iSIGN will be used to enhance the entire 5,900 screen network.
In a release, Alex Romanov, CEO of iSIGN, said, "We are excited by this acquisition and by the additional revenue opportunities that it will generate for us in both ad network sales and software licensing. Our new convenience store channel is in the fastest growing and profitable segment today, with frequent shoppers and opportunities to influence purchases and collect anonymous shopper data."
According to Romanov, one of the largest networks in North America is the company’s network in the Mac’s stores. For the first time, signage content will be broadcast to mobile phones of all customers within and in proximity of each of the 1,400 stores.
An average of 1.5 million consumers a day throughout the convenience store network alone will be reached once the iSIGN software has been installed in the convenience store chain. According to Romanov, the company will be able to better demonstrate ROI to brands and retailers through ownership of the networks. The company will be also able to demonstrate the advantages of the IMS patent-pending software and its various reporting features.
Romanov said, "With our IMS software, we will be able to satisfy advertisers' demand for real-time metrics, which will translate into increased sales for the network. In addition, we will immediately be accelerating our sales efforts to advertising agencies and brands with our new advertising sales partners."