VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/11/13 -- AnalytixInsight Inc. (the "Company") (TSX VENTURE: ALY). Further to its news release of July 9, 2013, the Company announces that it has closed its planned acquisition of AnalytixInsight (www.capitalcube.com), a privately held Delaware technology company, pursuant to the terms of the definitive share acquisition agreement entered into between the parties, dated as of June 28, 2013.
AnalytixInsight (www.capitalcube.com) is now a wholly owned subsidiary of the Company, and will change its name to CapitalCube Corp ("CapitalCube"). CapitalCube provides high-quality financial research and content for investors, information providers, finance portals and media through its online portal www.capitalcube.com, and through its institutional partner Connect platform. CapitalCube's disruptive technology algorithmically analyzes market price data and regulatory filings to create insightful, actionable narratives and research on approximately 45,000 global companies - all available as a cloud-based, SAAS offering. Insights generated by CapitalCube have been featured several times by analysts on CNBC and Barron's magazine has quoted "There is nothing quite like it..."
"We are pleased that leading stock exchanges, media organizations and finance portals have signed up with us, and provide a strong endorsement of our valuable services and of our unique technology platform," said Chaith Kondragunta, Chief Executive Officer of AnalytixInsight, who has been appointed to the Company's board of directors on the closing of the acquisition. "There is really no other service that can provide the breadth and depth of daily updated, actionable information we provide for investors - we cover about 45,000 stocks traded globally, about 35,000 stocks more than the next provider. The fact that capitalcube.com has users from around the globe speaks to the need for investors' demand for analysis and information, not just data."
Prakash Hariharan, who has been appointed as Chairman of the Board said, "We believe our technology is disruptive, not just in the fundamental research area, but also other sectors of the Big Data and Analytics space - there is an abundance of data in various sectors but very little actionable information. Our platform capability is extensible to other asset classes and sectors to generate insightful research reports. The Big Data and Analytics industry is poised for high growth and we believe we are well positioned to capitalize on the demand in this space."
The board is now comprised of Chaith Kondragunta, Prakash Hariharan, Scott Ackerman and Robert Chisholm. The Company thanks Rick Cox and Craig Goldenberger, each of whom has stepped down from the board of directors on closing, for their service to the Company.
The following officers of the Company have been appointed on closing: Chaith Kondragunta as Chief Executive Officer; and Gautam Pasupuleti as Chief Operating Officer. Robert Chisholm is continuing as Chief Financial Officer.
Prakash Hariharan: Prakash was formerly one of Canada's leading portfolio managers when he was at Front Street Capital focusing on technology and growth related investments. Prakash also spent time at Dominion Bond Rating Services, analyzing and rating structured investment products. He holds a financial engineering degree from York University, an MBA from the Schulich School of Business, and an undergraduate degree in chemical engineering.
Chaith Kondragunta: Before becoming an entrepreneur, Chaith's experiences were primarily in corporate finance and strategy advisory work. Chaith was with Stern Stewart & Co where he was the CEO of Stern Stewart Europe Ltd, and the CEO and founder of Stern Stewart India. Chaith was previously also at Petco, where he led corporate finance and investor relations initiatives including debt and equity repurchases. Chaith has frequently written and spoken on corporate performance and analysis with The Economist Group, CNBC, Bloomberg TV, and Euromoney. He has a Masters in Computer Engineering from the University of California, San Diego and an MBA from Carnegie Mellon University.
Gautam Pasupuleti: Gautam was previously Vice President, Product Strategy at Fidelity National Information Services. In this role he worked with leading financial institutions worldwide to deliver solutions across mobile, online, branch and ATM channels. Gautam grew his product line from inception to maturity, with attributable revenues of over $30MM annually. Gautam brings a unique perspective on retail from his background in consumer banking and consumer retail. Gautam has an Executive MBA from Columbia University, and also holds degrees from Pennsylvania State University, and the Indian Institute of Technology.
On behalf of the Board of Directors of ANALYTIXINSIGHT INC.
Prakash Hariharan, Chairman
CapitalCube, through its online portal www.capitalcube.com provides high-quality financial research and content for investors, information providers, finance portals and media. The company's disruptive technology algorithmically analyzes market price data and regulatory filings to create insightful, actionable narratives and research on approximately 45,000 global companies - all available as a cloud- based, SAAS offering. This platform capability is extensible to other asset classes and sectors to generate insightful research reports.
CapitalCube currently has existing business relationships with leading global financial and media institutions. To find out more about CapitalCube's offerings, visit http://www.capitalcube.com.
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 may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
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