SpotLite360 IOT Solutions Inc Announces Acquisition of Reti Capital Including Digital Media Company
SpotLite360 IOT Solutions (CSE:LITE) Inc announced the acquisition of a 100% stake in Reti Capital Corp and, as part of that, a 100% stake in Colorado-based digital media company, Back to the Digital Inc (BTTD).
Reti and BTTD will operate as wholly owned subsidiaries of SpotLite360 and are expected to be accretive by the end of 2022, the logistics technology solutions provider said.
“We are very excited to add this team and these capabilities to our strategy for delivering supply chain data and consumer proof,” President and CEO James Greenwell said in a statement. “Our software solutions provide tracing, tracking and visibility to any supply chain and consumers are the ultimate beneficiaries of this data.
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“Consumers will have visibility into proof of sustainability, ESG (environmental, social and governance) claims, product origins, authenticity, nutritional information panels and a long list of product and brands. Consumer engagement and data analytics is the last link in the supply chain,” he added.
BTTD, the parent of the highly successful www.ImFromDenver.com website, is a nationally recognized producer of data-driven digital content that entertains, engages, interacts and increases revenue across many digital platforms, SpotLite360 noted. .
ImFromDenver.com is used to distribute company-produced digital content and has generated the best consumer engagement numbers. On a daily basis, the platform has an average of more than 300,000 unique visitors and frequently, more than 600,000 visitors. In a recent 28-day period, the site had more than 15 million views, he said.
SpotLite360 said the acquisition of BTTD will provide greater opportunity to scale the digital twin of its customer base supply chain. The BTTD team will also bolster the company’s marketing efforts and facilitate a new suite of consumer-facing solutions as an integral part of SpotLite360’s Software-as-a-Service (SaaS)-based supply chain technology solutions. . With consistent year-over-year revenue growth, BTTD has built and told the stories of many companies, products and brands, he added.
Reti, on the other hand, brings an exclusive worldwide license with Encapsa Technology Ventures, Inc to the SpotLite360 team in the supply chain space. The global license will leverage Encapsa’s patented data storage technology that uniquely brings together all forms of structured and unstructured data, making it searchable and available to everyone in the enterprise and uniting disparate data with analysis purposes.
“I see the vision of collecting real-time data across the supply chain and presenting digital data to the consumer,” said BTTD founder Jared Wigand. Mark.”
“SpotLite360 is a pioneer in leveraging a SaaS, IOT, Blockchain, Sensors platform to collect data, analytics, transparency in a supply chain and chain of custody, for the partner ecosystem and consumers of these brands. My team is thrilled to be a part of this future. It’s awesome!” he added.
SpotLite360 shares issued as consideration
SpotLite360 said the consideration for the acquisition of Reti was 13,250,000 common shares of the company issued at C$0.08 per share. Upon acquiring Reti, the company immediately assumed the letter of intent between Reti and BTTD and acquired all of the shares of BTTD in a definitive agreement.
The acquisition of BTTD consisted of 1,000,000 common shares of SpotLite360, which were issued at C$0.08 per share and US$50,000 in cash. In addition, BTTD has a twelve-month earn-out based on exceeding certain revenue targets.
The consideration shares issued for the acquisition of BTTD and any subsequent earnout are subject to a hold period of four months and one day from their issuance.
SpotLite360 is a logistics technology solutions provider that unlocks value, opportunity and efficiencies for all participants in a supply chain. Building on existing applications of IoT technologies, distributed ledgers, and machine learning, SpotLite360 strives to set new standards for transparency, integrity, and sustainability in the pharmaceutical, healthcare, and healthcare industries. farming.
Contact the author at jon.hopkin[email protected]