MYID:CC - InvestorNewsBreaks - Reklaim Ltd. (OTCQB: MYIDF) (TSX.V: MYID) Inks LOI Deal to Acquire Multimedia Lists Inc.
Reklaim (OTCQB: MYIDF) (TSX.V: MYID), the destination for consumers to access and reclaim their data, has entered into a nonbinding letter of intent (“LOI”) to purchase the assets of Multimedia Lists Inc. (“MML”), a data broker currently operating in the United States. According to the announcement, MML is a cash flow-positive company, and Reklaim anticipates that the acquisition will immediately double the monthly revenue of Reklaim after the transaction is complete. The completion of the transaction is conditional upon the signing of a definitive agreement, final approval of the TSX Venture Exchange and Reklaim completing its due diligence investigation of MML. “MML has several Fortune 500 clients that complement the existing clients and distribution of Reklaim,” said Reklaim CEO Neil Sweeney in the press release. “As privacy legislation and technology changes are putting the onus on data companies to ensure the data being offered to clients is compliant, partnering with Reklaim will help MML retain and grow their client base. As we have previously communicated to the market, we have identified a unique opportunity to amalgamate data companies that lack the tools to maintain consent with consumers, and we are excited to accelerate this strategy over the coming quarters.”
To view the full press release, visit https://ibn.fm/0GFZa
About Reklaim Ltd.
Reklaim is driven by consumer data and the evolution of privacy. Offering compliant, zero-party data to Fortune 500 brands, platforms and data companies, Reklaim allows consumers to visit the platform, confirm their identity, and unveil data that has been collected and sold for years without the consumer's explicit consent. Reklaim enables consumers to take back control of this data by setting up a Reklaim account through which, should they choose to, they can be compensated for their data or protect it via a suite of privacy tools. For more information about the company, visit www.Investors.Reklaimyours.com.
NOTE TO INVESTORS: The latest news and updates relating to MYIDF are available in the company’s newsroom at http://ibn.fm/MYIDF
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