AnalytixInsight Inc. (TSXV: ALY) shares moved up 12% to $0.33 a day following its
October 27, 2014 announcement that it has signed a non-binding Memorandum of Understanding
(MOU) with India’s IRIS Business Services Ltd. to form a strategic partnership
to service clients and explore business opportunities in the financial data
analytics space. The MOU is expected to leverage IRIS’ expertise in the XBRL
domain, which includes filings for several thousand publicly-traded companies,
and provide value added analytics through AnalytixInsight’s big data analytics
platform and established distribution channels. AnalytixInsight will also seek
to acquire a 30% equity stake in IRIS.
“This is a great partnership for
AnalytixInsight to grow its big data analytics platform in the B2B space. Iris
has approximately $12 million (CAD) in revenues today and revenues are poised
to increase next year. The XBRL space has seen plenty of activity in recent
times and is expected to grow significantly in the next few years on the back
of changing regulatory requirements for reporting standards for issuers. This
partnership is accretive to AnalytixInsight and will provide a boost to top
line revenues as well as a strong, strategic fit to our product and business
development in the predictive analytics space. Based on current trends and
indications, AnalytixInsight is expected to do about $5-$6 million (CAD) in
revenues with our B2B partnerships next year and a partnership in the XBRL
business will help us achieve that,” said AnalytixInsight Chairman Prakash
Hariharan.
The IRIS partnership news was the second
significant announcement from AnalytixInsight’s this month. On October 6, 2014,
the company reported that it has launched a new research product designed to
analyze corporate press releases on quarterly earnings announcements for
approximately 50,000 listed companies globally. As well, it announced that its
subsidiary, CapitalCube Corp., has entered into a content licensing partnership
with AOL Inc. to supply earnings release analysis on select companies to AOL’s Daily
Finance portal, dailyfinance.com, for the benefit of the millions of users
who visit the website.
AnalytixInsight’s disruptive technology algorithmically analyzes market price
data and regulatory filings to create narratives and research on approximately
50,000 global companies and ETFs, providing financial research and content for
investors, information providers, finance portals and media through its online
portal capitalcube.com,and mobile platform Marketwall (marketwall.com).
Shares of AnalytixInsight have surged more than 57% since September 17, 2014, to
its recent price of $0.33 a share.
To learn more about AnalytixInsight please visit their
SmallCapPower.com Investor Hub: http://www.smallcappower.com/companies/products/analytixinsight-inc-tsx-v-aly
About AnalytixInsight:
AnalytixInsight Inc.’stechnology platform helps transform data into narratives.
The Company’s online portal www.capitalcube.comand mobile platform Marketwall (www.marketwall.com) provide high-quality financial research and content for investors,
information providers, finance portals and media. The Company’s disruptive
technology algorithmically analyzes market price data and regulatory filings to
create insightful, actionable narratives and research on approximately 50,000
global companies and ETFs – all available as a cloud-based, SAAS offering. This
platform capability is extensible to other asset classes and sectors to
generate insightful research reports.
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About Ubika Research
Ubika is an investment research and capital market services firm
based in Toronto and Vancouver with a proven track record of identifying and
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offering timely market insights. Its specialty is small-cap companies with a
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