MONTREAL, Oct. 23, 2020 (GLOBE NEWSWIRE) — ATW Tech Inc. (the “Firm” or “ATW Tech“) (TSX-V: ATW) supplies an replace on the acquisition of Semeon Analytics Inc. (the “Acquisition“) and the personal placement (the “Personal Placement“) that have been introduced on October 1, 2020. ATW Tech has determined to postpone the estimated deadline of the Acquisition and the Personal Placement with a view to full the due diligence of Semeon Analytics Inc. and to acquire the approval of the TSX Enterprise Alternate. ATW Tech now expects to shut earlier than November 20, 2020.
Semeon is a Quebec-based expertise firm that has developed a man-made intelligence expertise. Over the previous 5 years, Semeon has mixed strategies of semantic, sentiment, intent and statistical evaluation with synthetic intelligence pushed pure language processing methods to develop a platform able to routinely analyzing, classifying and visualizing information from a number of channels and a strong workbench suite which allows even non-experts to customise classification and filtering settings with out the necessity for cumbersome rule units. Semeon supplies its shoppers with a platform for exact textual content evaluation, clever and versatile for decoding, understanding, and summarizing buyer suggestions on particular components. For this objective, Semeon’s pure language textual content evaluation expertise permits to flick through 1000’s of buyer feedback, to extract the ideas expressed, to categorise these as optimistic, damaging or impartial opinions, in order that corporations or organizations can alter their communication and advertising technique in an knowledgeable and diligent method.
Whether or not it’s an acceleration of buyer suggestions processing, the identification of key elements in a provide chain or key components in monetary forecasting fashions, amongst others, Semeon ensures good points in evaluation velocity permitting crucial resolution making in minutes or hours fairly than weeks or months.
ATW TECH’S PROFILE
ATW Tech (TSX-V: ATW) is a monetary expertise firm (“fintech”), proprietor of a number of acknowledged expertise platforms akin to VoxTel, Possibility.vote and Bloomed. VoxTel focuses on phone billing and different fee options for fastened and cell strains. Possibility.vote presents a personalized multi-method voting system for unions, political events, skilled associations and anybody on the lookout for a safe technique to cut back their voting prices and enhance their participation charge. Bloomed is a cloud computing platform for managing sensible information on shoppers and their behaviors for each enterprise and consumer-oriented campaigns.
Ahead-Trying Statements and Disclaimer
Sure statements on this press launch could also be forward-looking. These statements embody these regarding the Transaction, the deadline of the Transaction, the potential affect of the acquisition on the Firm, the flexibility of the Firm to lift funds in reference to the personal placement and the usage of the proceeds raised in reference to mentioned personal placement. Though the Firm believes that such aheadtrying statements replicate expectations based mostly on cheap assumptions, it can’t assure that its expectations can be realized. These assumptions, which can show to be inaccurate, embody, however usually are not restricted to, the next:
(i) All of the circumstances of the transaction can be met. Specifically, ATW Tech will carry out satisfactory due diligence on Semeon‘s operations, funds, authorized standing and different issues; (ii) ATW Tech and Semeon‘s shareholders will have the ability to negotiate and conclude a purchase order settlement and different paperwork associated to the transaction; (iii) ATW Tech will acquire the required regulatory approvals for the acquisition of Semeon on commercially cheap phrases; (iv) The acquisition of Semeon will allow ATW Tech to comprehend the anticipated synergies; (v) ATW Tech’s officers is not going to set or obtain some other strategic targets utilizing the proceeds of the Personal Placement. The components that will have an effect on the achievement of the anticipated outcomes embody (i) The discovery within the due diligence technique of components unfavorable to Semeon that might stop ATW Tech from continuing with the acquisition; (ii) The failure of negotiations between the events with respect to last documentation; (iii) The Firm’s lack of ability to comprehend the anticipated synergies for any cause or as a consequence of technical points that stop the mixing of Semeon‘s methods with these of ATW Tech; (iv) The Firm’s lack of ability to successfully use the proceeds of the personal placement; (v) The Firm’s lack of ability to acquire the regulatory approvals obligatory for the acquisition or the personal placement; (vi) Labor disputes or the incidence of comparable dangers; (vii) ) a deterioration within the monetary market circumstances that stop the Firm from elevating the required funds in a well timed method, and (viii) the Firm’s lack of ability to develop and implement a marketing strategy basically and for any cause in any respect. An outline of the dangers affecting the Firm’s enterprise and actions seems below the heading “Dangers and Uncertainties” on pages 12 to 13 of ATW Tech’s 2019 annual administration’s dialogue and evaluation, which is accessible on SEDAR at www.sedar.com. No assurance can be given that any occasions anticipated by the forward-looking info in this press launch will transpire or happen, or if any of them do, the advantages that ATW Tech will derive therefrom. In specific, no assurance can be given as to the future monetary efficiency of ATW Tech. ATW Tech disclaims any intention or obligation to replace or revise any forward-looking statements in order to account for any new info or any different occasion. The reader is warned towards undue reliance on these forward-looking statements.
Further info relating to ATW Tech is accessible on SEDAR www.sedar.com