An Australian company is to get exclusive rights to deploy mobile marketing technology from iSign Media Solutions in three South Pacific countries under a non-binding proposal announced Tuesday.
DAT Media of Varsity Lakes, Australia, would pay up to US$1.07 million to the Ontario-based technology company over three years for exclusive licence rights in Australia, New Zealand and Indonesia.
DAT, which is a privately owned supplier of digital marketing solutions, may also make an equity investment in iSign, which has its headquarters in Richmond Hill, Ont., north of Toronto.
iSign uses various types of wireless technologies to engage consumers interactively and gather information that advertisers can use to improve returns on their media purchases.
DAT will pay US$250,000 up front for 230 licences of iSign’s Smart Antenna and related software. iSign will also receive $1,095 per licence annually under the three-year licence agreement.
iSign has also agreed to grant 250,000 options that will allow DAT to buy shares at an agreed price, once those details are negotiated.
“We are pleased that DAT expressed a desire for an ownership position in the company as it indicates their strong belief in iSign’s products and future success,” said iSign chief executive Alex Romanov.
