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.
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