Kin Group are set to invest in software company Bidstack, as part of a reverse takeover bid.
If successful, the £400,000 investment, which is expected to be completed by August, will see the company return to trading on the AIM market on the London Stock Exchange.
James Draper, Chief Executive of Bidstack, commented: “This is an exciting moment for me and the team. We are looking forward to the completion of the RTO so that we can drive the business forwards to the next stage of our growth.
By obtaining a quotation on the AIM market we believe the RTO will be a great result for our current shareholders, who have supported us over the last three years and will provide us with a firm foundation for continued growth and winning more commercial contracts with the leading publishers and advertising agencies. ”
He added: “We are excited to be kicking off our platform just in time for the FIFA World Cup and looking forward to the prospect of delivering on our ambitious business plans.”
Bidstack is a software firm that has developed technology to place advertising campaigns directly into video games, such as Sega’s popular Football Manager.
The technology facilitates targeted in-game advertising, allowing two gamers playing the same game to experience different advertisements based upon the criteria determined by different brands and campaigns.
The company currently holds the exclusive rights to place direct digital advertising into six games, such as Cricket Captain and Sociable Soccer.
Bidstack launched a successful crowdfunding campaign with Crowdcube back in December of 2015.
The company surpassed its initial target of £100,000, eventually raising a total of £137,590.
According to Crowdcube, the reverse takeover will give 66 of the respective investors in Bidstack to access to all of the trading opportunities that accompany an AIM listing.
