VSBLTY Announces The Assumption Of Winkel Media Field Deployment and Support Contract to Drive Immediate Profitability to the Media Network
Vancouver, British Columbia
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February 21, 2024 10:40 AM Eastern Standard Time
PHILADELPHIA, PA. -- TheNewswire -- January 17, 2024 — VSBLTY Groupe Technologies Corp. (the “Company” or “VSBLTY”) (OTC:VSBGF) (CSE:VSBY) (Fra:5VS), a leading AI software provider of security and retail analytics technology, announced today that it has reached an agreement to acquire the delivery contract for Winkel Media in LATAM. The contract, which was assumed on February 1st, will be captured in definitive contract in the next 45 days and includes installation, monitoring, as well as other monthly servicing components for the network.
In an effort to expeditiously drive the network to profitability as the revenues increase the joint venture partners have agreed to split the services elements among them for greater efficiency and lower costs. This restructuring of the service elements ensures that Winkel Media becomes immediately EBITDA positive. VSBLTY will assume the balance of the debt obligation for the contract for a total of approximately $1.5M. The debt will be renegotiated with the willing assistance of the lender but is expected to be extinguished within 28 months.
CEO Jay Hutton explained “We are hyper focused on driving VSBLTY to profitability this year. This is all about fine tuning the delivery model and fortifying VSBLTY as a more comprehensive full suite provider. VSBLTY has had a team Mexico City for some time and they will be leveraged to provide additional capabilities. The restructuring has come about due to the re-allocation of various tasks among the Joint Venture partners. The deal has a total contract value of $4.6M in recurring revenue to VSBLTY. The cumulative EBITDA is approximately $2M over the life of the contract,. In addition, this deal fixes operational and infrastructure costs so that further growth of the network can be accomplished without significant incremental infrastructure cost. “
On Behalf of the Board of VSBLTY Groupe Technologies Corp.
"Jay Hutton”
CEO & Director
Investor Relations
Harbor Access
Jonathan Paterson, 475-477-9401
Jonathan.Paterson@Harbor-Access.com
Graham Farrell, +1-416-842-9003
Graham.Farrell@Harbor-Access.com
CONTACT: Linda Rosanio, 609-472-0877
About VSBLTY (http://vsblty.net/)
Headquartered in Philadelphia, VSBLTY (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) (“VSBLTY”) is the world leader in Proactive Digital Display™, which transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning. Its proprietary technology effectively integrates with other digital retail solutions, including QR codes and mobile applications. The firm is also recognized for its leadership role in the growing Store as a Medium movement that enables brands to reach customers when and where buying decisions are being made while producing a new revenue stream for retailers. In-store retail media networks are foundational to VSBLTY’s “Store as a Medium” model and include a collection of digital channels including in-store interactive digital displays (strategically placed throughout the store), integrating loyalty apps, websites, etc. VSBLTY software enables these networks to deliver brands and retailers “first of its kind” computer driven data analytics about their customers.
About Winkel Media (http://Winkel-Media.com)
Winkel Media is an in-store media technology company that is a joint venture of VSBLTY, its Latin American partner Retailigent Media and Anheuser-Busch InBev. The technology company developed the first retail DOOH network in Latin America. Winkel has the most advanced facial detection technology on the market, integrating machine learning through cameras and digital displays to anonymously determine demographics of customers visiting the store, including age and gender, and how long they view advertising. The firm also generates data dashboard reports with custom KPI’s that deliver unique insights to strengthen the commercial strategy of brands.
