iSIGN Media Solutions Inc., Toronto-based provider of interactive mobile advertising solutions, and DAT Media, a privately owned and operated full service supplier of digital media products and services located in Varsity Lakes, Queensland, Australia, have signed a non-binding Letter of Intent.
Under the terms, DAT has agreed to an upfront payment of $250,000 US, in exchange for 230 licenses for iSIGN’s Smart Antenna and related Interactive Marketing Solutions 3.1 software, for a period of three years. In addition, DAT will receive exclusive rights to the territories of Australia, New Zealand and Indonesia. iSIGN will receive $1,095 in licensing fees per unit per year.
To satisfy DAT’s desire for an ownership position in the Company, iSIGN will grant to DAT, 250,000 options, with pricing still to be determined, subject to the approval of the Company’s Board of Directors and the TSX – Venture Exchange.
“We initially met with the DAT Media people at the DSE trade show this past March,” said Alex Romanov, iSIGN’s CEO. “DAT has a very good reputation in Australia and a strong client base. We feel that our software will be an excellent fit with DAT’s products and cliental.”
“We were very impressed by what we saw at the DSE show in March and were very encouraged by our testing of iSign’s IMS software and Smart Antenna earlier this month,” says Andrew Becker, managing director, DAT Media. “We believe that this technology has great potential and have had positive feedback from the clients with whom we discussed the IMS system.
“iSIGN’s technology is innovative and provides for the measurement of the delivered messaging to consumers. We strongly feel that iSIGN’s technology will be both well received and successful.”
“We are pleased that DAT expressed a desire for an ownership position in the Company as it indicates their strong belief in iSIGN’s products and future success,” says Romanov. “This is the second of four licensing agreements that we are currently negotiating.”
DAT’s products and services include: digital signage, in-store radio, kiosks, touchscreen technology, customer queuing systems, interactive gesture control systems, SAAS based content management systems, media sales, social media integration and creative content production. DAT’s clients include Australian government owned retail operations in addition to some of the largest retailers, hospitality and licensed premise operators in Australia.
In addition to the Australian news, iSIGN Media and Boston-based Carroll Advertising, an independently owned and operated advertising company, also announced the successful conclusion to their previously announced licensing letter of intent. The companies have completed testing of iSIGN’s Interactive Marketing Solutions 3.1 software and related Smart Antenna.
“Carroll has completed its testing of our system and has agreed to move forward with the $250,000 licensing purchase,” says Romanov. The Company expects to take delivery of the initial portion of its total build of 1,000 Smart Antennas within the next two weeks, with the remaining balance being delivered by mid June.
“Once Carroll has its units installed and generating metrics, we expect to see a dramatic increase in interest in iSIGN’s IMS software throughout the US,” says Romanov.
Carroll specializes in out-of-home and digital out-of-home advertising. It claims to have been the first company in Massachusetts with digital billboards and has expanded into the digital out-of-home marketplace with digital signage, including locations on ferries serving Cape Cod, Nantucket and Martha’s Vineyard.