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Breaking Data Provides Business Update
Globe Newswire 13-Sep-2018 7:30 AM
TORONTO and LONDON, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Breaking Data Corp. (TSXV:BKD, OTCQX:BKDCF) ("Breaking Data" or the "Company"), owner of GIVEMESPORT, a leading next generation sports media company, has sold its Toronto-based technology team to Highground Technologies Corporation ("Highground") for an undisclosed sum.
Under the deal with Highground, Breaking Data will retain an agreement that will allow the Company to use the Artificial Intelligence (AI) previously built and to continue to develop machine-learning based systems for GIVEMESPORT and GIVEMEBET.
GIVEMEBET is a new online sports betting brand that will complement GIVEMESPORT's leading position in digital sports publishing.
Under the sale and licensing agreement with Highground, Breaking Data will retain a 10 per cent stake in VRFY, a subsidiary of Highground. VRFY is a 21st century media company that uses AI to help consumers detect, collect and validate real time news events.
The Letter of Intent that was announced on October 17, 2017 for US$2.25m to develop and license software to Highground is superseded by this deal with Highground along with a US$500k consulting contract that was completed by Breaking Data in early 2018.
Nick Thain, CEO of Breaking Data, said: "We are pleased to announce this deal with Highground. It allows us to continue to use AI within our media and new online gaming business, at the same time as reducing our cost base."
Thain continued: "This is another step on the road to us becoming a next generation sports betting and gaming company."
Breaking Data is a market leader in artificial intelligence services that provides a range of solutions including semantic search, machine learning and natural language processing (NLP). GIVEMESPORT is Breaking Data's flagship application, a leading source of sports news and events that makes use of semantic machine learning and NLP to track social media and distribute the latest sports news to consumers in real-time.
GIVEMESPORT, Breaking Data's wholly owned subsidiary, is a leading next generation sports media company with the largest single publisher Facebook page for sports in the world, with over 26.1 million fans (Average April to June 2018). The next largest single sports publisher Facebook page is ESPN with approximately 19 million fans. GIVEMESPORT has a global Alexa ranking of 661st (March 2018), reaching over 33 million monthly visitors (March 2018). Visit GIVEMESPORT's Facebook page at facebook.com/GiveMeSport
Cautionary Statement on Forward-Looking Information
Cautionary and Forward-looking Statements - Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the Company's other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Breaking Data does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
