Business
Completion of Investment
Completion of Investment.
About this update from Insig Ai Plc
[{"type":"text","content":"\n \n \n RNS Number : 4938F\n Catena Group PLC\n 09 March 2020\n \n \n \n \n \n \n \n The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n \n \n \n 9 March 2020\n \n \n \n \n \n Catena Group PLC\n \n \n (\"Catena\" or the \"Company\")\n \n \n Completion of Investment in Insight Capital Partners Ltd, an artificial intelligence company\n \n \n \n \n \n Catena Group plc (AIM: CTNA), a UK based venture capital company focused upon acquiring or investing in companies operating in high growth industries, is pleased to announce the completion of its maiden investment since refocusing its investing strategy and corporate rebranding, with a £1.5 million strategic investment in Insight Capital Partners Limited (\"Insight\")(the \"Investment\") to acquire an initial 9.1 per cent interest (on a fully diluted basis).\n Catena also has secured a six-month option to increase its holding up to 30.2 per cent. on the same terms as the Investment. \n \n \n About Insight and the Rationale for the Investment\n \n \n Insight is a data science and machine learning solutions company that combines quantitative research, machine learning and technology infrastructure to deliver bespoke analytical tools to clients enabling them to extract data from outdated platforms and improve the accessibility and insight locked within. \n \n \n This initial Investment is directly in line with Catena's refocused strategy of investing in quality, fast growing companies. Machine learning is widely recognised as having the potential to fundamentally benefit performance and profitability in many, if not all, industries. Catena's investment is a first step toward a broader strategy to capitalise on growth opportunities in AI and machine learning.\n \n \n Matthew Farnum-Schneider, CEO of Catena commented: \n \n \n \n \n \n \"We are delighted to have secured this investment in Insight. Machine learning is set to revolutionise the asset management and financial services industries and we believe that Insight is ideally placed to capitalise on the exponential growth in the sector. Insight's demonstrated perf...