General update

Gfinity plc (AIM: GFIN) announces commercial progress across its businesses, including a new DSP partnership for Connected IQ, its US launch in November and the commercial launch of Cortx IQ, together with an update on the proposed acquisition of 0M Technology Solutions Limited, the owner of Connected IQ.

Connected IQ

In September, Connected IQ delivered campaigns for three agencies, expanding our commercial progress and continuing the adoption of the technology.

Additionally, Connected IQ has agreed a partnership with a major demand-side platform (“DSP”). The DSP will offer Connected IQ’s contextual models to its network and utilise their sales infrastructure to expand the offering. This opens a second route to market alongside direct agency sales and introduces Connected IQ to a new group of advertisers.

In November, Connected IQ launches in the United States, the world’s largest advertising market, with a sales roadshow.

Yentra.AI

Yentra.AI will rebrand as Cortx IQ.

Cortx IQ, which provides SME and Enterprise clients a platform to adopt AI into their businesses, will launch commercially in October for founding partners. Our academic partner, Liverpool John Moores University, will also go live this month.

Initial founding partners include The ESG Institute and the Edlatam group in Latin America. Both will use CortxIQ to improve their reach and operational efficiency.

Proposed acquisition of 0M Technology Solutions (Connected IQ)

As previously announced, the Board is progressing the acquisition of 0M Technology Solutions Limited, the owner of Connected IQ, and is currently completing its due diligence and agreement of the applicable transaction documents.

The consideration is currently expected to be a combination of new ordinary shares and possibly a convertible loan such that the funds raised in the Company’s recent placing remain available in full for the Group’s commercial growth. A further announcement will be made in due course.

David Halley, CEO, commented:

“September was an important step forward for the Company. Adoption by agencies and a DSP has shown real market demand for Connected IQ’s models and signals, and in November we will take it to the US, the world’s largest advertising market. We also have Cortx IQ launching this month, with Liverpool John Moores University among its first users. We enter the fourth quarter with both products in market and strongly capitalised by our recent placing.”