- A+ generated
US$1.4 million in annual revenue andUS$207K normalized EBITDA during 2023 (unaudited) - Transaction is non-dilutive to Xcyte Digital shareholders
- Acquisition to be funded via existing cash on hand
A+ Conferencing operates a full-service conferencing services business, providing audio, video, and web conferencing services for medium to high volume customers, resellers, and agents. A+ Conferencing provides a comprehensive range of services, from reservation-less conference calling to web conferencing and video email, tailored to meet specific client needs. "The combination of the A+ and Xcyte businesses creates a company with a combined 30+ years of experience and talent. The synergies are expected to enhance our clients' overall experience and provide a high level of service excellence in the conferencing services arena”, said A+ CEO,
“We believe combining A+ and Xcyte’s conferencing businesses will bolster our service offering, enabling us to begin to scale our revenue and EBITDA as we progress the Company to its medium term growth goals," said Xcyte CEO,
About A+ Conferencing
Founded in 2000, and led by
About
Xcyte Digital (TSXV: XCYT) is a spatial computing event technology aggregator and developer providing high value, cost-effective, multi-platform subscription services to host online virtual and immersive events. Xcyte was formed in 2022 through an amalgamation of operating businesses and assets in the virtual & immersive event sectors. The Company went public on the
Non-IFRS Financial Measures
This press release may include references to certain non-IFRS financial measures. These non-IFRS measures do not have any standardized meanings prescribed by International Financial Reporting Standards (IFRS) as issued by the
For further information, please contact:
Phone: (647) 777 7501
Email: investment@xcytedigital.com
Investor Relations
Email: nik@sophiccapital.com
Phone: (647) 777 7501
Neither
Forward-Looking Information
Certain information in this news release constitutes forward-looking statements and forward-looking information under applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information in this release includes, but is not limited to, statements with respect to the expected synergies that Xcyte may realize as a result of the acquisition of A+, and the impact that the Transaction may have on Xcyte's growth prospects generally. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by management as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements and future events to be materially different from those expressed or implied by such forward-looking information, including that the A+ assets may not perform or generate revenue at the levels experienced historically; that there may be obstacles to absorbing the A+ assets into Xcyte's broader business; that the synergies anticipated by the A+ acquisition may not materialize to the extent expected or at all; and other factors that apply to the Company's business generally as described in greater detail in the documents filed under the Company's profile at www.sedarplus.ca. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Investors are cautioned that undue reliance should not be placed on any such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. The Company does not intend, and does not assume any obligation, to update the forward-looking information in this release except as otherwise required by applicable law.
1 Non-IFRS measurement, A+ Normalized EBITDA of approximately
2 Non-IFRS measurement, Xcyte Normalized EBITDA of a loss approximately
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