Gfinity took the unusual step of releasing an update at 4.00pm yesterday instead of the more conventional 7.00am, reporting commercial progress across its advertising and AI businesses, and saying its planned acquisition of Connected IQ’s owner was advancing.
The company said its Connected IQ contextual-advertising technology ran campaigns for three agencies in September and agreed to a partnership with a major demand-side platform, giving it a second route to market alongside direct sales. It will launch in the US, the world’s largest advertising market, in November.
Separately, Gfinity said it rebranded its Yentra.AI business as Cortx IQ, a platform that helps businesses adopt AI, launching commercially this month with founding partners including the ESG Institute and Latin America’s Edlatam group. Its academic partner, Liverpool John Moores University, is also going live.
On its proposed acquisition of 0M Technology Solutions, which owns Connected IQ, Gfinity said it was completing due diligence, with the deal expected to be funded through new shares and possibly a convertible loan, leaving the proceeds of a recent fundraise available for growth.
David Halley, CEO of Gfinity, said: “September was an important step forward for the Company. Adoption by agencies and a DSP has shown real market demand for Connected IQ’s models and signals, and in November we will take it to the US, the world’s largest advertising market. We also have Cortx IQ launching this month, with Liverpool John Moores University among its first users. We enter the fourth quarter with both products in market and strongly capitalised by our recent placing.”
Should the acquisition materialise and the offering gain traction, Gfinity would have completed a pivot from an esports media and events company to an AI-powered adtech firm.