Artificial Solutions Commences Trading on Nasdaq First North

Artificial Solutions®, the leading specialist in enterprise-strength conversational AI, announced today that its reverse takeover agreement with Indentive AB, and the subsequent reverse-split of shares through which 30 shares are merged into one (1) share, is now complete and that today marks the first day of trading of the new shares for Artificial Solutions International AB (short name: ASAI) on Nasdaq First North in Stockholm.

“Achieving the listing is part of a larger strategy that will enable us to take advantage of the immense growth opportunities we see within the conversational AI market,” comments Lawrence Flynn, CEO of Artificial Solutions. “Already a number of the world’s leading enterprises have used our technology to successfully implement complex conversational applications over different channels, in multiple languages, for a variety of use-cases. Now as demand really starts to take off for conversational AI we’re ready to scale our operations to deliver the most advance conversational AI technology commercially available today.”

For over a decade, Artificial Solutions has been pioneering conversational AI. Today, Artificial Solutions’ flagship product Teneo® delivers all the tools global enterprises need to develop sophisticated conversational AI applications, enabling them to enhance their customer relationships, while maintaining control of their own data. Artificial Solutions’ business model is geared for rapid scalable growth with future high profitability and strong cash generation. The listing on Nasdaq First North reinforces Artificial Solutions standing as a leading player in the fast-growing conversational AI space and provides a platform to finance the company’s innovative approach to delivering AI for the enterprise.

Already the standard platform of choice for a number of major multinational enterprises 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.

“I’m delighted to join the Board of Artificial Solutions at this exciting time,” says Åsa Hedin, Chairman of the Board. “The company’s revolutionary technology, combined with strong partnerships with leading consulting and integration firms, makes it perfectly positioned to take advantage of the fast-growing market for conversational AI platforms for the enterprise.”

Nasdaq Bell Ceremony for ASAI

The transaction in short:

  • Artificial Solutions has completed a reverse takeover of Indentive under the policies of Nasdaq First North.
  • The proposed reverse takeover was announced at 08:15 (CET) on the 28 January 2019 and was approved by the Indentive AGM on 28 February 2019.
  • The previous shareholders of Artificial Solutions hold approximately 97.75 per cent of the shares and votes in Artificial Solutions International (previous Indentive) and the previous shareholders of Artificial Solutions International (previous Indentive) hold approximately 2.25 per cent of the shares and votes in Artificial Solutions International (previous Indentive).
  • A merger of shares (so-called reverse split) through which 30 shares are merged into one (1) share was approved by the Indentive AGM on 28 February 2019 and the record date for the merger of shares, 13 March 2019, was announced on 5 March 2019.  Tuesday, 12 March 2019 is the first day for trading in Artificial Solutions shares after the merger.
  • In conjunction with the Transaction, Indentive has changed its name to Artificial Solutions International AB.
  • The new board of directors consists of Åsa Hedin, Johan Ekesiöö, Bodil Eriksson, Johan Gustavsson, Fredrik Oweson and Jan Uddenfeldt, with Åsa Hedin 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 continue their roles in Artificial Solutions International.

For more information visit https://www.artificial-solutions.com/investor-relations.

Erik Penser Bank is the Company’s Certified Adviser (www.penser.se, tfn 08-463 83 00, e-post certifiedadviser@penser.se).

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