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INTOUCH INSIGHT LTD. ANNOUNCES A DEFINITIVE AGREEMENT TO ACQUIRE ALTA360 OF TOLEDO, OHIO
INTOUCH INSIGHT LTD. ANNOUNCES A DEFINITIVE AGREEMENT TO ACQUIRE ALTA360 OF TOLEDO, OHIO ...
About this update from Intouch Insight Ltd.
[{"type":"text","content":"\n \n \n \n INTOUCH INSIGHT LTD. ANNOUNCES A DEFINITIVE AGREEMENT TO ACQUIRE ALTA360 OF TOLEDO, OHIO\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n OTTAWA, ON\n \n \n ,\n \n \n Sept. 18, 2023\n \n \n /CNW/ -\n \n Intouch Insight Ltd\n \n ., (Intouch or the Company) (TSXV: INX) (OTCQX: INXSF) today announces that on\n \n September 15, 2023\n \n it entered into a definitive agreement (the Acquisition) to acquire all outstanding shares of Brand Equity Builders Inc. (BEB) the parent company of both Alta360 Research Inc. (Alta) and its sister company Ardent Retail Services Inc. (Ardent), subject to TSX Venture Exchange approval.  Alta is a US customer experience measurement company who has provided services across the US since 1999.  Ardent is a new venture offering in-store services such as merchandising and re-branding.  The letter of intent was signed on\n \n June 2, 2023\n \n , and the targeted closing date is\n \n October 1, 2023\n \n .\n \n \n \"Of all the acquisitions we have done this one may have me the most excited.  The value in an acquisition is not only the customers and revenues but also the reputation and talent that comes with the acquired company.  The Alta team has a great deal of tenure and knowledge at all levels and the current owner,\n \n Stan Hart\n \n , is also the current President of the industry association, the MSPA.  Having served on the MSPA Board of Directors with Stan in the past I can attest to his abilities and character and I am very pleased to be able to team up with him and his company\" said\n \n Cameron Watt\n \n , President & Chief Executive Officer of Intouch.\n \n \n Alta had calendar 2022 annual revenues of\n \n US$5.0M\n \n , and EBITDA of 8%. Intouch will not assume any long-term debt from the vendor and the transaction is arm's length from Intouch. The purchase price for the Acquisition is a combination of cash and a promissory note.  The purchase price is\n \n US$3.125M\n \n in cash of which,\n \n US$1.5M\n \n is payable at closing along ...