VANCOUVER, BRITISH COLUMBIA, Dec 15, 2014 (Marketwired via COMTEX) —
ACT360 Solutions Ltd. (the “Company” or “ACT360 Solutions”) (tsx venture:AKM) announced that its wholly owned US subsidiary ACT360 Solutions USA Inc. has signed a Letter of Intent (“LOI”) with iLeads.com LLC (“iLeads”) to form a joint venture (“JV”) pursuing online customer acquisition business opportunities in the real estate, mortgage, home improvement, and alternative energy vertical markets.
The terms of the LOI provide that within 60 days from the date of the signing of the LOI, the parties will enter into a JV for the monetization of iLeads’ consumer-facing NeighborhoodIQ.com platform.
iLeads intends to license to the JV its NeighborhoodIQ.com customer acquisition platform and proprietary data feed with title, lien, tax, valuation sales history, comparable sales, property characteristics and other data elements covering 145 million properties in the U.S that is updated daily.
ACT360 will provide the JV with media management expertise and working capital to support traffic acquisition, sales, and business development activities.
The parties will jointly manage and operate the JV, and share the JV’s operating cash flow. The JV is subject to the completion of due diligence and the negotiation of a satisfactory JV agreement between the parties.
Vincent Wong, CEO of ACT360 Solutions, advised, “The iLeads JV is a powerful platform that immediately adds the real estate, mortgage, home improvement, and alternative energy industries to ACT360’s portfolio of online customer acquisition businesses.”
About iLeads.com LLC
iLeads.com was founded in 1996 as an internet-only lead generation company. iLeads.com has served over 51,000 clients since inception in the mortgage, insurance, real estate and financial services industries. iLeads.com products include customer acquisition solutions, lead analytics, and custom data services.
About ACT360 Solutions Ltd.
ACT360 Solutions is a global provider of Online Customer Acquisition software and services. We acquire, manage, and build Online Customer Acquisition businesses that address the specific client acquisition needs of our customers in particular vertical markets.
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release – including, without limitation, statements regarding future plans and objectives of ACT360 Solutions Ltd. – are forward-looking statements that are subject to various risks and uncertainties. Forward-looking statements are based on current expectations and analyses, including the effects of anticipated product, service, and distribution changes and the potential benefits of such efforts and activities on the Company’s results of operations in future periods. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ACT360 Solutions Ltd.
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