Business
Namaste Closes Acquisition of Leading A.I. and Machine-Learning Technology Platform Findify.io for $12,000,000 in Cash and Shares
Namaste Closes Acquisition of Leading A.I. and Machine-Learning Technology Platform Findif...
About this update from Lifeist Wellness Inc
[{"type":"text","content":"\n\n\n\nNamaste Closes Acquisition of Leading A.I. and Machine-Learning Technology Platform Findify.io for $12,000,000 in Cash and Shares\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\nCanada NewsWire\nVANCOUVER, May 22, 2018\n\n\n\nVANCOUVER, May 22, 2018 /CNW/ - Namaste Technologies Inc. (\"Namaste\" or the \"Company\") (TSXV: N) (FRA: M5BQ) (OTCMKTS: NXTTF) is pleased to announce that the Company has closed its previously announced acquisition of Swedish-based A.I. and machine learning technology platform, Findify AB (\"Findify\" or \"Findify.io\"), through the purchase of all of the issued and outstanding shares of Findify, for a purchase price of US $12,000,000 in a combination of cash and common shares of the Company. Findify is a global leader in A.I. powered e-commerce technology, delivering solutions such as personalized search, recommendations, and advanced data analytics. The acquisition of Findify as a technology platform will bring significant value to Namaste and its shareholders by accelerating the Company's growth strategy, enhancing conversion rates and revenue and in providing an entry into machine-learning and A.I. for applications for cannabis. \n\n\n \n \n\n \nFindify's Platform and Conversion Rate Optimization\n\nFindify's platform, which is used by leading e-commerce websites, including Namaste, uses proprietary real-time machine learning algorithms to deliver a truly personalized experience to each and every customer. Through robust data collection, the platform analyzes user behavior and in combination with product trends, it automatically and continuously displays relevant products to each customer at any given time. The ability to deliver accurate and relevant products real-time, leads to increases in revenue, conversion rates and average order value. \n\nNamaste will deploy Findify's full product suite across its platform in order to bring this intelligence across all consumer touch-points. This focus on conversion rate optimization (CRO) using A.I. and machine learning technology will provide Namaste's customers and patients, with an enhan...