get in14 Jul 2020 12:14
MESH Holdings PLC
(“MESH” or “the Company”)
Offer to acquire 100% of Sentiance NV (“Sentiance”)
MESH is pleased to confirm that it has recently made an Offer to acquire 100% of Sentiance.
At present, the Company owns around 14% of Sentiance equity and since January 2020 Mike
Power represents MESH on the Sentiance Board of Directors.
As part of the Offer for Sentiance, the Company has also made a specific proposal to Asimilar
Plc (“ASLR”). ASLR would receive a material compensation, paid for in restricted ordinary
MESH shares, in return for ASLR novating both its minority part of the extended Sentiance
Acquisition Option and the €15 million primary Sentiance equity subscription to MESH, as
was announced on 4 March 2020. ASLR and MESH have agreed that subject to formal
agreement and final documentation, they will aim to complete their part of the Offer
transaction by 10 August 2020.
Sentiance background
The Sentiance Motion Intelligence and Behavioural Change Platform enables leading direct
to-consumer companies to get a deep understanding of the individual user journey and adapt
their service offerings and engagement processes on a one-on-one basis with unmatched
focus on privacy and data ownership. The AI Platform-as-a-Service approach supports rapid
development and effective deployment of bespoke and transformative use cases, such as
human-centric and hyper-personalised consumer interactions, new and innovative mobility
services, intelligent banking, usage and lifestyle based insurance, predictive health tracking
and coaching, and many more.
Sentiance recently announced an extended partnership with Autoliv, a world leader in car
safety equipment, to develop the world’s best crash detection and crash reconstruction
system, utilising smartphone and smart wearable sensor data. Separately, a partnership with
one of the largest technology players worldwide was finalised in developing intelligent family
safety service offerings utilising Sentiance core IP. Other well-known and publicly named
clients of Sentiance include Uber, Careem, Absa, Samsung, Trove, Sparebank/Fremtind and
Risk Insurance.
Mid-2019 Sentiance started bespoke development of a “Consumer-to-Brand” (“C2B”)
intelligence and recommendation platform, inspired, funded and supported by MESH. Once
fully internally tested and deployed, it is anticipated that this intelligence platform will create
many new avenues globally to enable contextualised and hyper personalised consumer
service offerings delivering clearly defined benefits for consumers and brands alike.
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Over the next 15 months Sentiance expects to complete internal edge computing
development work leading to the implementation of full “on-device processing”. This will
significantly enhance its already market leading proposition and materially further increase
client return on investment whilst fully maintaining and guaranteeing data control and
ownership by the user. Through the proposed 100% a