- Strategic and synergistic transaction to increase market share and enhance growth opportunities
- The deal is expected to boost 2022 earnings; Supports LGIQ forecast for year-end breakeven EBITDA run rate
NEW YORK, March 31, 2022 (GLOBE NEWSWIRE) — Logic, Inc. (OTCQX: LGIQ, NEO: LGIQ), a global provider of award-winning consumer acquisition solutions, announced today that it has completed the acquisition of certain assets of the Battle Bridge Labs companies, including Section 2383 LLC (collectively, “Battle Bridge” ). , a digital brand marketing agency based in Tulsa, Oklahoma, on schedule, as previously announced on February 17 as a binding LOI.
Battle Bridge is a leading and fast-growing boutique provider of digital brand marketing services including Pay Per Click Management, Social Media Marketing, Funnel Building & Optimization, SEO, Web Design, Conversion Optimization and more. It is a certified partner of Google, Shopify, Bing ads, IMA and has been featured in Forbes, HuffPo, Wix.com and other leading publications.
Logiq anticipates booking $3.8 million in Battle Bridge revenue with $1.4 million in EBITDA cash flow over the next 12 months beginning April 1. Structured as an asset purchase, Logiq purchased certain Battle Bridge assets, including customer lists and contracts, trade names and trademarks, marketing assets. , patented technology and processes, and more for $3.25 million. The purchase price consisted of $250,000 in cash and the issuance of $3 million in restricted Logiq common stock that is subject to a minimum six-month lock-up with escape gates for one year thereafter. Concurrent with the transaction, Logiq is employing numerous key Battle Bridge employees.
The transaction generates Logiq’s incremental revenue and projected cumulative earnings while synergistically increasing its content creation resources and broadening its digital marketing expertise, enabling both companies to scale their assets and operations to accelerate growth.
“Our first strategic deal of 2022 is tremendously positive as we successfully executed our business plan to pursue strategic, EBITDA-generating acquisitions that strengthen our competitive advantages, allow us to capture market share and create cross-selling opportunities,” said Brent Suen. , Chairman and CEO of Logiq. “It is an exemplary model of the types of transactions we are actively working on for 2022.”
“All industries go through periods of consolidation,” Suen added. “With most small businesses affected by the pandemic, we see many well-managed companies in our fragmented industry with attractive, low valuations whose best option for strong, sustainable growth is simply to gain scale through mergers and acquisitions. Logiq has the experience and vision to synergistically consolidate these undiscovered values.”
Logiq Inc. is a leading US-based global provider of customer acquisition and e-commerce solutions by simplifying digital advertising. Provide end-to-end data-driven marketing through your results solution or provide software to access data by triggering campaigns across multiple channels.
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Important Cautions Regarding Forward-Looking Statements
This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, and its amendments, and is subject to the Port created by those sections. This press release also contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation relating to Logiq’s current expectations and opinions about future events. Any statement that expresses or involves discussions of expectations, beliefs, plans, goals, assumptions, or future events or performance (often, but not always, through the use of words or phrases such as “likely to,” “is expected to,” ” expects”, “will continue”, “anticipates”, “anticipates”, “believes”, “estimates”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “target” and “outlook”. ”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. There can be no assurance that these expectations will prove to be correct. and any forward-looking statements contained in this press release should not be unduly relied upon.
These statements speak only as of the date of this press release. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Logiq’s control, which could cause actual results and events to differ materially from those disclosed. or implied by such forward-looking statements. In particular and without limitation, this press release contains forward-looking statements about our products and services, continued use of and/or demand for our products and services, expectations about our revenues and the revenue-generating potential of our products and services, our strategic partnerships and alliances, potential strategic transactions, the impact of global pandemics (including COVID-19) on demand for our products and services, industry trends, general market growth rates, our growth strategies , the continued growth of the markets served by our products and solutions, our business plans and strategies, including, but not limited to, our ability to successfully negotiate and finalize a purchase agreement governing the terms of such acquisition, the structure of the transaction, the timing of the transaction, and the valuation and success of the business Whoa. after completion of the transaction, if any, and other risks described in the Company’s prior ss and in its filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K and any subsequent public filings, and filings made pursuant to Canadian securities legislation which are available at www.sedar.com, including under the heading “Risk Factors” in the Company’s Canadian Prospectus.
Logiq undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New factors emerge from time to time, and Logiq cannot predict all of them, nor assess the impact of each factor or the extent to which any one factor, or combination of factors, may cause results to differ materially from those. contained in any forward-looking statement. Any forward-looking statement contained in this press release is expressly qualified in its entirety by this cautionary statement.
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