- SRAX recently closed acquisition of LD Micro, leading micro-cap information portal
- LD Micro to become wholly-owned subsidiary of SRAX for 1.6 million in common stock plus $4 million cash
- Acquisition to accelerate adoption of Sequire, SRAX’s SaaS investment analytics platform
- Sequire revenue grew 29% year-over-year for Q2 2020, user base doubled to one million users during Q3 2020
SRAX (NASDAQ: SRAX), a data-based financial technology company, recently closed the acquisition of LD Micro, a leading data portal serving the small and micro-cap space. The deal, worth 1,600,000 shares of common stock and $4 million in cash, will make LD Micro a wholly-owned subsidiary of SRAX while maintaining founder Christopher Lahiji as president and appointing him to SRAX’s board of directors.
The move comes during a rapid growth period for Sequire, SRAX’s data analytics SaaS platform. Geared towards the investment industry, Sequire unlocks data and insight for public companies that can be used to activate marketing campaigns to engage both new, existing and potential investors.
Prior to acquiring LD Micro, SRAX had witnessed strong early success with Sequire. The platform doubled its user base to over one million investors and traders in two months (https://ibn.fm/j6oNa), in addition to posting Q2 earnings that showed a 29% increase in year-over-year revenue. The acquisition of LD Micro – a leading brand in the provision of exclusive information on micro-cap North American stocks – is expected to accelerate the adoption of Sequire while enhancing LD Micro’s own digital assets.
Sequire helps public companies gain insights on the activities of both retail and institutional investors, providing critical actionable data to activate successful campaigns aimed to increase engagement with current investors while attracting new ones. Sequire’s application suite is currently being used by over 91 companies to harness the power of their data through the use of tools that leverage investor intelligence and outreach, track warrants, engage users through surveys, and promote events and roadshows.
“The platform is an absolute game-changer for public companies and their shareholders,” said LD Micro founder Chris Lahiji in recent statements (https://ibn.fm/Mzz1z). “Both companies believe that one day executives will rely on Sequire the same way investors rely on Bloomberg.”
“Over 1,500 companies have presented at LD Micro’s events since 2008, and almost all of them would be immediate beneficiaries of this technology,” he continued.
The acquisition of LD Micro is expected to be immediately accreditive to SRAX’s operations. The recent LD 500 conference, held online in early September, included presentations from hundreds of companies across a wide range of industries in addition to featuring keynotes with some of the most prominent figures in the micro-cap world.
The company continues to leverage the growing demand for quantifiable and detailed consumer data by creating specialized tools that empower companies to reveal core consumers and their characteristics across a wide range of industries.
For more information, visit the company’s website at www.SRAX.com.
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX
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