DATABLE ANNOUNCES CROSS-SELLING AGREEMENT WITH LOCAL MARKETING SOLUTIONS GROUP
VANCOUVER, BC, Jan. 30, 2023 /CNW/ - Datable Technology Corporation (TSXV: DAC) (OTC Pink: TTMZF) (the "Company" or "Datable"), the developer of a proprietary, SaaS-based Consumer Lifecycle and Data Management Platform called PLATFORM3, announces that it signed a cross-selling agreement (the "Agreement") with Local Marketing Solutions Group, Inc.("LMSG") on January 26, 2023. The Agreement was contemplated in the Letter Of Intent ("LOI") for Datable to acquire 100 percent ownership of LMSG signed on September 23, 2022 (see press release dated September 30, 2022) and amended on January 17, 2023 (see press release dated January 25, 2023).
Pursuant to the terms of the Agreement, Datable and LMSG (together the "Parties") agreed to work in coordination to sell the products and services of the Parties to existing and prospective customers. The agreement has a term of one year and renews automatically unless terminated by either party. LMSG and Datable agreed to negotiate in good faith the compensation and payment terms of sales opportunities.
"LMSG has a U.S. based sales and operations team that will generate over $14 million in revenues in 2022. In addition to national customers, like our growing customer base, LMSG has served thousands of SMBs with regional marketing solutions. We look forward to expanding our large enterprise business and entering the SMB market with an on-the-ground sales team that has existing relationships and expertise," said Rob Craig, CEO of Datable. "Our current customers are mostly global consumer brands based in the U.S. with very large marketing budgets that we can access by adding LMSG's products and services to our offering."
"We are keen to start working with Datable to generate new revenues and customers for both companies. Datable's consumer data platform is complementary to our products and services" said Al Croke, CEO of LMSG. "Datable has shown that its SaaS platform is valued by large enterprises that use it to connect directly with consumers and enhance loyalty while providing tools to collect and monetize first-party data. Our enterprise and SMB customers are looking for consumer data solutions and we are eager to leverage Datable's success to grow recurring high-margin revenues. We look forward to offering our products and services to Datable's customers and going after the market together."
LMSG provides marketing solutions and technology to national and international brands that drive revenue through local sales and marketing channels across the U.S. LMSG offers marketing automation technology and a comprehensive set of supporting marketing services and allowing corporate marketing control of brand image while facilitating dissemination of product and service content and materials for local channels. LMSG's customers include some of the largest global companies and thousands of SMBs across the U.S.
About Datable Technology Corporation
Datable has developed PLATFORM3 a proprietary Consumer Lifecycle and Data Management Platform that is sold to global consumer brands. PLATFORM3 is delivered as a subscription service (Software as a Service model) and used by some of the worlds' most valuable consumer brands to access new consumer communities and engage them while collecting, analyzing, and managing their first-party data. PLATFORM3 incorporates proprietary technology to monetize the consumer data, including demographics and purchasing behaviour, by sending consumers targeted offers by email and text messages. For more information, visit datablecorp.com.
Local Marketing Solutions Group (LMSG), a holding company, was formed in 2012 by the executive management team of JGSullivan Interactive Inc. The purpose of the holding company, through merger and acquisition activity and organic growth, is to continue the expansion of offering the broadest and most efficient marketing solutions to national and international brands that drive revenue through local sales and marketing channels. LMSG provides marketing automation technology and a comprehensive set of supporting marketing services capabilities, allowing corporate marketing control of brand image while facilitating dissemination of product and service content and materials for local channels.
For additional information about the company please visit www.sedar.com. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds and the results of financing efforts, – that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Datable Technology Corp.
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