Expert System (EXSY) invests in ADmantX for new product and market development
July 18, 2014
Expert System (EXSY) announced at the ADmantX SpA shareholders’ meeting that it would invest €500,000 in the online semantic advertising company, a subsidiary of Expert System SpA.
The capital increase was made by Expert System through the release of 48,247 new shares.
In addition, Atlante Ventures Mezzogiorno, venture fund of Gruppo Intesa Sanpaolo managed by IMI Fondi Chiusi, has converted part of its convertible bonds, valued at €200,000, through the issue of 19,299 new shares.
As a result of these transactions, Expert System holds 77.83% shares of ADmantX, Atlante Ventures Mezzogiorno holds 21.35% and other minority shareholders .82%.
This capital increase will support ADmantX in its continued growth, especially in support of its most recent service, Semantic Audience Profiling.
“Our Semantic Advertising Platform offers a unique solution for this growing market,” said Giovanni Strocchi, CEO, ADmantX. “This investment supports our continued expansion in the US, the UK and other markets within Europe, where we have recently signed new partnerships with industry leading ad exchange platforms.”