Artificial Solutions Holding ASH AB (“Artificial Solutions” or the “Company”), the leading specialist in enterprise-strength conversational AI, announced today that it has entered into a reverse takeover agreement with Indentive AB (Nasdaq First North: INDEN B) (“Indentive”) which will see a new entity, Artificial Solutions International AB, become listed on the Nasdaq First North stock exchange.
The agreement with Indentive, subject to final approval by the Indentive AGM on 28 February 2019, will allow Artificial Solutions to achieve its aim of listing on Sweden’s leading multilateral trading facility for growth companies.
“Artificial Solutions is at a very exciting stage where we see huge growth opportunities ahead,” comments Lawrence Flynn, CEO of Artificial Solutions. “Our unique conversational AI platform, Teneo, is used by world leading brands to successfully implement complex applications over multiple channels, in multiple languages across multiple use-cases. Aided by strong partnerships with leading consulting and integration firms, we’re able to scale our operations quickly to keep up with the growing demand for advanced conversational AI.”
For over a decade, Artificial Solutions has been pioneering conversational AI. Today, Artificial Solutions’ flagship product Teneo delivers all the tools large global enterprises need to develop sophisticated conversational AI applications, enabling them to enhance their customer relationships, while maintaining control of their own data. Artificial Solutions’ business model is geared for rapid scalable growth with future high profitability and strong cash generation. The listing on Nasdaq First North reinforces Artificial Solutions standing as a leading player in the fast-growing conversational AI space and provides a platform to finance the company’s innovative approach to delivering AI for the enterprise.
Already the standard platform of choice for a number of major multinational enterprises Teneo, allows business users and developers to collaborate on creating sophisticated, highly intelligent conversational AI applications that can run across 35 languages, multiple platforms and channels in record time. The ability to analyze and make use of the enormous quantities of conversational data is fully integrated within Teneo, delivering unprecedented levels of insight that reveal what customers are truly thinking.
“Having invested in Artificial Solutions for the last decade we look forward to broadening the investor base while remaining a large and engaged shareholder,” says Fredrik Oweson, partner at Scope. “The company’s maturity positions it perfectly to take advantage of the fast-growing market for conversational AI platforms for the enterprise.”
The transaction in short:
- Artificial Solutions will complete a reverse takeover of Indentive under the policies of Nasdaq First North.
- The proposed reverse takeover was announced today at 08:15 (CET) and is subject to final approval by the Indentive AGM on 28 February 2019.
- Following completion of the transaction, the shareholders of Artificial Solutions will hold approximately 97.75 per cent of the shares and votes in Indentive and the current shareholders of Indentive will hold approximately 2.25 per cent of the shares and votes in Indentive.
- In conjunction with the Transaction, Indentive will change its name to Artificial Solutions International AB.
- It is expected that Artificial Solutions International AB will begin trading on Nasdaq First North on 12 March 2019.
- The new board of directors is proposed to consist of Åsa Hedin, Johan Ekesiöö, Bodil Eriksson, Johan Gustavsson, Fredrik Oweson and Jan Uddenfeldt, with Åsa Hedin to be elected as chairman.
- Artificial Solutions’ current senior management team consisting of Lawrence Flynn as CEO, Chris Bushnell as CFO, Andreas Wieweg as CTO, and Andy Peart, Peter Roost, Dave Parsin, Gareth Walters, Russell Tarr and Darren Ford will continue their roles in the new entity.
For more information, please visit https://www.artificial-solutions.com/investor-relations.