Artificial Solutions Announces Proposed Listing on Nasdaq First North
Artificial Solutions Holding ASH AB, a specialist in enterprise-strength conversational AI, announced that it has entered into a reverse takeover agreement with Indentive AB which will see a new entity, Artificial Solutions International AB, become listed on the Nasdaq First North stock exchange.
The agreement with Indentive, subject to final approval by the Indentive AGM on 28 February 2019, will allow Artificial Solutions to achieve its aim of listing on Sweden’s leading multilateral trading facility for growth companies.
For over a decade, Artificial Solutions has been pioneering conversational AI. Now, Artificial Solutions’ flagship product Teneo delivers all the tools large global enterprises need to develop sophisticated conversational AI applications, enabling them to enhance their customer relationships, while maintaining control of their own data.
Teneo allows business users and developers to collaborate on creating sophisticated, highly intelligent conversational AI applications that can run across 35 languages, multiple platforms, and channels in record time. The ability to analyze and make use of the enormous quantities of conversational data is fully integrated within Teneo, delivering unprecedented levels of insight that reveal what customers are truly thinking.
The transaction in short:
- Artificial Solutions will complete a reverse takeover of Indentive under the policies of Nasdaq First North.
- The proposed reverse takeover is subject to final approval by the Indentive AGM on February 28, 2019.
- Following completion of the transaction, the shareholders of Artificial Solutions will hold approximately 97.75% of the shares and votes in Indentive and the current shareholders of Indentive will hold approximately 2.25% of the shares and votes in Indentive.
- In conjunction with the Transaction, Indentive will change its name to Artificial Solutions International AB.
- It is expected that Artificial Solutions International AB will begin trading on Nasdaq First North on March 12, 2019.
- The new board of directors is proposed to consist of Åsa Hedin, Johan Ekesiöö, Bodil Eriksson, Johan Gustavsson, Fredrik Oweson and Jan Uddenfeldt, with Åsa Hedin to be elected as chairman.
- Artificial Solutions’ current senior management team consisting of Lawrence Flynn as CEO, Chris Bushnell as CFO, Andreas Wieweg as CTO, and Andy Peart, Peter Roost, Dave Parsin, Gareth Walters, Russell Tarr and Darren Ford will continue their roles in the new entity.
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