Business
Acquisition of FDB Systems Limited
Acquisition of FDB Systems Limited.
About this update from Insig Ai Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7508S\n Insig AI Plc\n 18 November 2021\n \n \n \n \n \n The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. It forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n \n \n \n \n 18 November 2021\n \n Insig AI plc\n \n \n (\"Insig AI\" or the \"Company\")\n \n \n \n \n \n Acquisition of FDB Systems Limited, \n \n \n Issue of Consideration Shares and Total Voting Rights\n \n \n \n \n \n Insig AI plc (AIM: INSG), the data science and machine learning solutions company serving the asset management industry, is pleased to announce it has entered into a conditional share purchase agreement to acquire the entire issued share capital of FDB Systems Limited (\"FDB Systems\") (the \"Acquisition\").\n \n FDB Systems specialises in the collection and structuring of financial market data for investors and other capital markets participants. Integrating FDB Systems' data ingestion and structuring technology with Insig AI's storage, visualisation and machine learning optimisation capabilities will allow the Company to offer a complete end-to-end financial data solution to its customers. For more than 18 months, Insig AI has been a customer of FDB Systems and therefore has a close appreciation of its recent revenue growth and prospects.\n \n About FDB Systems\n \n \n FDB Systems, headquartered in London, was founded in 2019 to provide data and data solutions to hedge funds, asset managers, and private market investors. FDB Systems specialises in structuring data, which is the process of transforming raw data so that it can be more easily and effectively used as an input to machine learning, data science and AI processes. In addition, FDB Systems owns FilingDB. FilingDB is the first productised source of global company filings optimised for Natural Language Processing (\"NLP\") use cases. FilingDB aggregates, parses and structures information including annual reports, interim reports and press releases enabling users to access relevant data more easily. \n \n \n \n \n \n The unaudited accounts ...