Acquisition

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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