Toronto, Ontario–(Newsfile Corp. – September 30, 2022) – Ciscom Corp. (“Ciscom” or “the Company“) is pleased to announce it has completed the acquisition of Prospect Media Group Ltd. (“PMG”). This is Ciscom’s second acquisition. “We are very pleased to have completed the acquisition of PMG, a significant addition to Ciscom portfolio. We are focused on delivering shareholder value,” said Drew A. Reid, Ciscom’s Executive Chair & CEO. “The Ciscom team has raised capital and secured financing in a difficult environment in order to close the PMG acquisition which is a testimony to the PMG and the Ciscom teams,” said Michel Pepin, Ciscom’s President & CFO.
“When I acquired PMG, I had plans to modernize the offering with the introduction of digital services. Today, our successes are essentially our clients’ successes, where their marketing and advertising spend yields solid ROI. Nimbleness, accuracy, timeliness and scalability have been key to our long-term client relationships. Today, we are excited to join Ciscom and we look forward to further build and grow the Company,” said Dave Mathews, President and Managing Director of PMG.
Headquartered in Toronto Ontario, PMG is an AdTech driven organization that has developed proprietary software applications which enable the processing of big data efficiently. On a day-to-day basis, PMG provides analytics, customer acquisition strategies, digital marketing, direct mail, flyer distribution management, and related integrated media services to Canadian retailers and business-to-consumer companies. PMG provides customized marketing solutions to retail customers in a wide range of industries.
“We are delighted to welcome Dave and the entire PMG team and organization into the Ciscom’s family of companies. Ciscom and PMG have been in partnership discussions for some time and the timing is ideal. PMG is the second acquisition for Ciscom, following the acquisition of a complementary company, Market Focus Direct Inc (“MFD”) in September 2021. We are delivering on strategy and working at increasing shareholder value,” stated Drew Reid and Michel Pepin.
Ciscom Corp. is a Canadian holding (roll-up) company which is acquiring and managing companies in the ICT sector. Potential acquisition targets are entrepreneurs seeking equity, transition or that do not have a defined succession plan. Target companies are generally substantial SMEs and have a proven track record/history of profitability.
With this approach Ciscom enables owners/founders to crystalize the equity, while remaining active in the business. Consequently, acquisitions are immediately accretive to shareholders’ value. For more information, please visit www.ciscomcorp.com
About Prospect Media Group
PMG is a retail focused, data-driven, integrated media agency. PMG provides AdTech and MarTech services to a broad range of major retail clients across Canada, including consumer data & analytics, media planning and buying for advertisers across Canada, with leading expertise in the optimization and integration of print and digital media channels. PMG leverages its 20+ year expertise in analyzing consumer and market data, to provide clients with vital insights and information used to build integrated media strategy (traditional and digital) and enhance marketing spend effectiveness. For more information, visit www.prospectmedia.com
Executive Chairman & CEO
1 416 366 9727
President & CFO
1 416 366 9727
This news release contains certain statements that constitute forward-looking statements as they relate to Ciscom and its management. Forward-looking statements are not historical facts but represent management’s current expectation of future events and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “should”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct or will come to pass.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, Ciscom will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, Ciscom assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to; SARS-CoV-2; reliance on key personnel; shareholder and regulatory approvals; First Nations and other local communities; jurisdictional risk; risks of future legal proceedings; income tax matters; availability and terms of financing; distribution of securities; commodities pricing; rising costs related to inflation; effect of market interest on price of securities and, potential dilution.
Ciscom’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139125