TORONTO--(BUSINESS WIRE)--$ALY.V #AI--Artificial Intelligence company, AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY; OTCQB: ATIXF), a financial content and enterprise software solutions provider, is pleased to announce today that Vincent Kadar, Chief Executive Officer (“CEO”) of Polymath Research Inc., (“Polymath”) a security tokenization software company, has been appointed as a director of the Company, effective immediately.
With Polymath’s established legacy in developing Polymesh, an institutional-grade open-source blockchain built specifically for regulated assets, Polymath is rooted in technical expertise and is a leader in the new era of fintech and decentralized finance, helping businesses build on their success. With Mr. Kadar’s appointment to the board of directors, AnalytixInsight and Polymath plan to collaborate on a variety of business areas and initiatives.
Prior to his position at Polymath, Mr. Kadar spent 12 years as CEO of Telepin Software Systems Inc. (acquired by Constellation Software Inc. in 2017 (TSX:CSU)), a fintech software company providing digital wallet and payments platforms for developed and emerging markets globally. As CEO, he pivoted the organization into digital wallets and payments and drove business growth via a new market sector of mobile money.
“I am pleased to welcome Vincent Kadar to AnalytixInsight’s board of directors,” said Prakash Hariharan, Chairman and Chief Executive Officer of AnalytixInsight. “He brings proven technological expertise and business acumen, having managed several innovative software companies, alongside his strong network of global relationships in the fintech sector. Through Vincent, we will work to collaborate with Polymath on a variety of initiatives that we anticipate will result in increased shareholder value.”
Collaboration between the companies will include introduction of new product functionality such as digital wallet and coin-based settlement options (subject to regulatory review and approval), expansion of existing products into additional markets through strategic or channel partnerships, and inclusion of private securities into AI analysis offerings.
"I am pleased to join the AnalytixInsight team," stated Vincent Kadar, CEO of Polymath. "I look forward to working with both the board and management team to develop and execute business strategies to capitalize on the Company’s suite of novel fintech products and services. I believe that there is a strong market opportunity for the Company, and I am excited to work with the team to maximize shareholder value."
In addition, the Company announces today that, subject to regulatory approval, it has granted an aggregate of 320,000 restricted share units (the “RSUs”) to certain directors, in accordance with the Company’s restricted share unit compensation plan. The RSUs vest 12 months from the date of the grant.
AnalytixInsight is a data analytics and enterprise software solutions provider to world-leading institutions across various industries. AnalytixInsight develops and markets cloud-based platforms providing financial content, stock trading, and research solutions for banks, brokers, and investors in the financial services industry. AnalytixInsight holds a 49% interest in MarketWall, a developer of fintech solutions for financial institutions. Visit www.AnalytixInsight.com.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Company’s business operations and objectives, particularly respecting InvestoPro product and business expansion expectations, and any initiatives undertaken in collaboration with Polymath. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; risks associated with the Company’s technology and revenue generation assets; Polymath’s willingness and ability to collaborate on initiatives with the Company; risks associated with operation in the technology sector; the Company’s ability to successfully integrate new technologies and employees; foreign operations risks; risks in obtaining required regulatory approvals for new product offerings; and other risks inherent in the technology industry. Although AnalytixInsight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. AnalytixInsight does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Neither the 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.