Flash note: Double benefit from the DoubleVision acquisition
Single Touch Systems’ (SITO) $4m acquisition of DoubleVision is a logical step for its growing media division, adding scale and margin potential. The deal is financed predominantly in shares. Following the appointment of a third independent board director (Betsey Bernard) last week, the increased share count means the group is now compliant with all the criteria for a NASDAQ listing, which we expect SITO will pursue later in the year.SITO Mobile, through its location-based marketing platform, provides advertisement delivery, measurement and attribution services (Ad Placement) and consumer insights (Insights) to brands, advertising agencies, out-of-home advertisers, media companies and non-media companies that utilize consumer insights for decision-making purposes. The company's products and services include: Ad Placement, which delivers advertisements on behalf of its customers to audiences of existing and prospective consumers in a privacy compliant manner; and Insights, which allow marketers and executive decision makers to understand the movement and behavior of their audience of existing and prospective consumer.
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