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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  BlueRush Inc.    BTV   CA09629N1015

BLUERUSH INC.

(BTV)
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BlueRush Announces Sale of Software Assets to Broadridge for C$2.3 Million

09/05/2019 | 08:07am EST

TORONTO, Sept. 05, 2019 (GLOBE NEWSWIRE) -- BlueRush Inc. (“BlueRush” or the “Company”) (TSX-V: BTV), an emerging personalized video Software as a Service (“SaaS”) company, announced that it has sold the technology and source code for its DigitalReach™ platform and Broadridge’s Smart Advisor® application to Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader and leading provider of investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers, for C$2.3 million in cash. The disposition has been approved by the TSX Venture Exchange.

“This strategic transaction will enable us to heighten our focus on our core IndiVideo platform and provides us with greater financial flexibility to support our sales, marketing and product development objectives,” said Steve Taylor, CEO of BlueRush. “The sale of our DigitalReach platform and Smart Advisor application to an industry leader like Broadridge demonstrates our ability to develop value-enhancing technology solutions to meet the evolving customer service needs of leading financial services companies.”  

Broadridge and BlueRush have also agreed to an arrangement that enables the continued support of the existing DigitalReach clients.

About BlueRush
BlueRush develops and markets IndiVideo™, a disruptive, award-winning interactive personalized video platform that drives return on investment throughout the customer lifecycle, from increased conversions to more engaging statements and customer care. IndiVideo enables BlueRush clients to capture knowledge and data from their customers' video interaction, creating new and compelling data driven customer insights.

For more information visit www.bluerush.com.

Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: changes in law; the ability to implement business strategies and pursue business opportunities; state of the capital markets; the availability of funds and resources to pursue operations; a novel business model; dependence on key suppliers and local partners; competition; the outcome and cost of any litigation; as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.

  
For further information please contact:
Steve Taylor, CEO     Dave Badun, CFO
Tel: 416-457-9391 Tel: 416-203-0618
steve.taylor@bluerush.com     dave.badun@bluerush.com 
  

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.

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© GlobeNewswire 2019
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Financials
Sales 2020 3,78 M 2,97 M 2,97 M
Net income 2020 -1,31 M -1,03 M -1,03 M
Net Debt 2020 2,70 M 2,12 M 2,12 M
P/E ratio 2020 -2,97x
Yield 2020 -
Capitalization 12,9 M 10,2 M 10,2 M
EV / Sales 2019 3,56x
EV / Sales 2020 1,75x
Nbr of Employees -
Free-Float 26,7%
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Managers and Directors
NameTitle
Stephen Baxter Taylor Chief Executive Officer & Director
Laurence Lubin Chairman & President
John F. Eckert Independent Director
Michael J. Beckerman Independent Director
Paul Gerald Smith Independent Director
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