DATAPOWA ACQUIRED BY ASX TECH FIRM IXUP
The DataPOWA Board is pleased to announce it has entered into a binding Share Sale Agreement with Australian Securities Exchange listed technology company IXUP (ASX:IXU). The transaction is subject to shareholder approval by IXUP shareholders at an Extraordinary General Meeting that will be convened in due course.
The acquisition of DataPOWA affords IXUP access to the expected benefits of the commercialisation of DataPOWA’s POWA index, as well as important product integration and new product development opportunities, and strategically positions IXUP within the large and growing international digital sports data and related digital sports betting markets.
The IXUP Data Engine provides the DataPOWA business with a compelling competitive market advantage, new products, a unique point of difference and is set to accelerate sales of both the POWA index and IXUP’s Secure Data Engine to deliver early revenues for IXUP.
Technical collaboration between IXUP and DataPOWA in recent months has led to the development of the POWA index 2.0 (which combines DataPOWA’s POWA index with IXUP’s Secure Data Engine) and has recently secured its first commercial customer, the prominent international FIFA sporting confederation Concacaf.
Under IXUP ownership, DataPOWA operations are planned to be significantly expanded; and Michael Flynn (CEO) and Ian Penrose (Non-Executive Chairman) will continue in their current roles for DataPOWA.
Michael Flynn, the founder and CEO of DataPOWA said:
“We are excited to be working with the IXUP team with a focus on the aggressive commercialisation of the POWA index and POWA index 2.0, our joint technology offering, which is already gaining market traction, adoption and interest with key international customers and has created a world first in the sports data sector. Incorporating our POWA index platform with IXUP’s industry leading consumer database encryption technology will enable us to deliver rich insights across datasets not previously capable of being utilised, safely and securely.
As data becomes increasingly important in the business of sport, rights holders and brands will now be able to track and optimise their sponsorships in a new, relevant, and very effective way. “
IXUP’s Managing Director & CEO, Marcus Gracey, commented:
“The DataPOWA acquisition was a logical progression from the recently activated collaboration agreement between IXUP and DataPOWA, particularly as it quickly became clear that together we could create a market leading sports sponsorship valuation platform with deep analytics capabilities that the market would adopt.
The acquisition provides IXUP with valuable aligned technology, domain expertise with key personnel, an accelerated pathway to market for IXUP technology and accelerated revenues in the fast-growing global sports data and related digital sports betting markets.”
DataPOWA is a UK headquartered business offering specialist data and technology services to the global sports market. DataPOWA was founded in 2017 by sports industry entrepreneur, Michael Flynn who has over 30 years of sports sponsorship and digital marketing experience, including negotiating and directing Carling’s multi-award-winning Premier League sponsorship. DataPOWA launched the POWA index in 2019, a SaaS deployed measurement of power, AI valuation, predictive analysis & ranking system, which covers over 2,500 teams, leagues and events from 46 different sports tracked in real time. The POWA index provides for real-time effective decision making for rights holders, agencies and brands alike, measuring auditable data points relevant to the digital age, in virtually real time.
DataPOWA operates a license fee SaaS model, with an initial focus on sporting clubs, leagues and rights holders. The business also has broader applications, including sponsors and brands, advertising agencies and media outlets. Future target markets include the entertainment, music, fashion and automotive industries, including many others.
IXUP Limited (ASX:IXU) (pronounced ‘eyes up’) is a pioneering technology company that has developed world class technology facilitating the secure sharing and analysis of sensitive information using advanced encryption technology. The Company’s Secure Data Engine is the missing ‘key’ to organisations ‘unlocking’ their information assets previously unable to be shared or commercialised due to concerns around privacy, cyber security, and compliance considerations. IXUP’s Secure Data Engine is being commercialised at a crucial junction when the need to share and commercialise sensitive data and dormant data assets is becoming more important yet more difficult to achieve.
For enquiries regarding this release please contact:
Stephen O’Malley (COO, DataPOWA)
Mob: +44 7768907668