What's Happening With Intouch Insight?
Intouch Insight (INXSF) has signed a non-binding Letter Of Intent (or LOI) to purchase assets of an arm's length North American customer experience measurement company. For privacy purposes, Insight will not reveal the name of the vendor until the agreement is complete. Shares of the company were trading lower by 1.56% to $0.5676 a share on Thursday.
What Does This Mean For Intouch Insight?
Insight had previously entered into an agreement to purchase the vendor in February 2020, but the resulting pandemic forced the company to scrap the deal. The latest LOI has since been modified to reflect changes in circumstances over the past year.
"Getting this Acquisition back on track is a positive signal that business is returning to its pre-pandemic state. The Vendor's business has weathered the storm and, like Intouch, is now very close to a full recovery. This Acquisition brings with it additional geographic dispersion and a client base consisting of household name brands to whom we can target sales of our robust suite of SaaS products. In addition, there are significant revenues synergistic with our own and a wealth of experience and knowledge through its competent management team and employee base. In fact, as part of the Acquisition the Vendor's founder will stay on as a full-time member of the Intouch team to ensure that we best leverage the Acquisition for additional growth," said Cameron Watt, President and CEO of Intouch.
Intouch will pay for the Acquisition from a combination of cash on hand, bank debt financing, and ongoing cash flows generated from the Vendor's ongoing business. Moreover, Intouch will not be taking on any long-term debt from the Vendor or pay any finder's fees.
Intouch Insight Ltd. develops managed mobile software applications and software-as-a-service platforms, and delivers services for private businesses, governments, and regulators in Canada, the United States, and internationally.
INXSF has a Long-Term Technical Rank of 49. Find out what this means to you and get the rest of the rankings on INXSF!
Intouch Insight Ltd offers a complete portfolio of customer experience management (CEM) products and solutions that help brands delight their customers, strengthen brand reputation and improve financial performance. Some of the company's products and services are Customer Experience Management Software, Mobile Forms Software and many more.
