Silver Bullet Regulatory News (SBDS)

11 November 2024

Silver Bullet Data Services Group plc

("Silverbullet" or the "Company", or, together with its subsidiaries, the "Group")

Acquisition

Silverbullet (AIM: SBDS), a provider of AI driven digital transformation services and products, is pleased to announce that it has acquired certain intellectual property rights (IPR) from Spore London Limited t/a Codec.AI (in administration) (Codec AI) for a cash consideration of £50,000 payable in two tranches, plus an earnout of 10% of net revenues generated from the technology up to 31 December 2025.

Codec AI was a contextual AI insights and targeting data company that extracted consumer behaviour from social platforms such as Instagram, X (formerly twitter) YouTube and Facebook globally. Codec AI's IPR was used to provide actionable insights for content and creative brand engagements to improve customer experience and drive improved marketing ROI using social and influencer contextual data. Codec AI had a global footprint with international clients which included Diageo, Unilever, Mars and Procter & Gamble.

The acquisition of Codec AI's IPR provides significant opportunities to Silverbullet's first party data services and will accelerate the Group's 4D AI technology platform. The enhanced products will create clear upsell opportunities to extend Silverbullet's products and services and extend the established Silverbullet global client base.

Ian James, Chief Executive, commented: "We are delighted to acquire Codec AI's IPR which is an exciting opportunity for Silverbullet and is importantly earnings enhancing and value accretive from day one. The new opportunities will add significantly to both the Group's offering and existing client base enabling 4D AI to provide a broader service."

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