LONDON, April 26, 2017 /PRNewswire/ --
Software company Infoteria acquires This Place, the design studio and creators of Mind Reader (MindRDR), the renowned innovative technology connecting brain activity to social platforms
Japan-listed Infoteria Corporation has completed the acquisition of This Place Limited, a UK-based global digital design studio that specialises in creating digital experiences and services for consumers of international brands. Its work includes designing global e-commerce experiences across all digital platforms through to building new innovative platforms such as social shopping experiences via networks such as Facebook. This Place has offices in London and Seattle serving a global client base including Delhaize Group and T-Mobile.
The acquisition builds on Infoteria Corporation's digital software intellectual property (IP) development capabilities, enabling the group to realise its potential fully in using world class design services for its own IP product development. The acquisition also expands the group's capability into full design and development of platforms for global brands via This Place Limited's existing and fast-growing client base.
Comment from - This Place CEO, Dusan Hamlin:
"We are excited to be a member of Infoteria Group. This Place Limited helps Fortune 500 brands design products and services for the digital economy. Since our inception in 2012, we've forged partnerships with companies whose capabilities complement ours to dramatically improve customers' digital experiences and/or bring new digital products to market. As part of the Infoteria group, we can now offer strong product development skills as part of our portfolio. Our companies share remarkably similar organisational culture and technology goals. Our product strategy and design skills and Infoteria's software skills are a perfect marriage - this will be key to the future growth and continued global success of the Infoteria Corporation."
Comment from Yoichiro "Pina" Hirano, CEO of Infoteria Corporation:
"Infoteria aims to create innovative "connectivity" software that will contribute to the world market. I am very excited that This Place will join us, as I strongly believe that together we can make design-oriented products for ourselves and our partner clients that set the trend for product development now and the future. In addition, this is an important step forward for us as we become a global software provider which will continue building digital products for many years to come."
The acquisition purchase model is based on a five year earn-out. Total value estimated at £21 million in a combination of shares and cash. Initial acquisition consideration is £7 million. Future earn-out payments are calculated based on EBIT of This Place and paid in a combination of shares and cash over the next five years https://www.infoteria.com/jp/m/?t=lpkqrhn.
Over the past year, Infoteria's flagship software products, ASTERIA and Handbook, have enjoyed a majority market share in each of their key markets. ASTERIA uses the concept of "non-programming", enabling users to carry out development through a graphical language wherein users are not required to write any textual programs at all. Building on this forward-thinking, innovative approach to product development, Infoteria believes that the future of software is changing; to continue to grow and enjoy such success, it is imperative to move from technology-oriented to design-oriented products.
With the acquisition of This Place, the group will further benefit from the ability to (1) Serve markets worldwide and (2) Create next-generation design-orientated software.
Dusan Hamlin remains CEO of This Place and is now appointed as the Global COO of Infoteria Group. This Place will continue its current business alongside the product collaboration with Infoteria HQ as described above.
This Place Limited was advised on the transaction by D5 Capital.
About This Place (website https://thisplace.com )
This Place is a digital design and strategy consultancy, headquartered in Shoreditch, London, United Kingdom (UK). This Place focuses on customer experiences and how best to improve digital experiences across the web, mobile, tablet and wearable devices. The company comprises a driven team of strategists, designers and developers who are passionate about all things digital and enjoy working with global brands to better their customers' experiences. Watch the This Place video to learn more https://www.youtube.com/watch?v=APNuM5iMD2Q.
Company name This Place Limited CEO Dusan Hamlin Offices London (HQ), Seattle Revenue 4.8 M GBP ※2016 Actual (Non audit) Pre-tax profit 1.8M GBP ※2016 Actual (Non audit)
About Infoteria (website https://www.infoteria.com/)
Infoteria Corporation, which is headquartered in Tokyo, Japan. Infoteria Corporation is listed on the Tokyo Stock Exchange under the ticker symbol 3853. Founded in 1998 as an innovative software product company, Infoteria went public in 2007. Infoteria's middleware product ASTERIA series has top market share for 10 years in a row in Japan. Infoteria's Handbook product also has top market share in the mobile content management space in Japan for five years.
This Place are also the minds behind Mind Reader (MindRDR) http://mindrdr.thisplace.com/static/index.html https://www.youtube.com/watch?v=JJQZtxlLaG0 the technology connecting Google Glass with a device to monitor brain activity, allowing users to take pictures and socialise them on Twitter or Facebook. No physical interaction required.
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SOURCE Infoteria Corporation and This Place Limited