Catena Group PLC Completion of Investment (4938F)
March 09 2020 - 12:45PM
UK Regulatory
TIDMCTNA
RNS Number : 4938F
Catena Group PLC
09 March 2020
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
9 March 2020
Catena Group PLC
("Catena" or the "Company")
Completion of Investment in Insight Capital Partners Ltd, an
artificial intelligence company
Catena Group plc (AIM: CTNA), a UK based venture capital company
focused upon acquiring or investing in companies operating in high
growth industries, is pleased to announce the completion of its
maiden investment since refocusing its investing strategy and
corporate rebranding, with a GBP1.5 million strategic investment in
Insight Capital Partners Limited ("Insight")(the "Investment") to
acquire an initial 9.1 per cent interest (on a fully diluted
basis). Catena also has secured a six-month option to increase its
holding up to 30.2 per cent. on the same terms as the
Investment.
About Insight and the Rationale for the Investment
Insight is a data science and machine learning solutions company
that combines quantitative research, machine learning and
technology infrastructure to deliver bespoke analytical tools to
clients enabling them to extract data from outdated platforms and
improve the accessibility and insight locked within.
This initial Investment is directly in line with Catena's
refocused strategy of investing in quality, fast growing companies.
Machine learning is widely recognised as having the potential to
fundamentally benefit performance and profitability in many, if not
all, industries. Catena's investment is a first step toward a
broader strategy to capitalise on growth opportunities in AI and
machine learning.
Matthew Farnum-Schneider, CEO of Catena commented:
"We are delighted to have secured this investment in Insight.
Machine learning is set to revolutionise the asset management and
financial services industries and we believe that Insight is
ideally placed to capitalise on the exponential growth in the
sector. Insight's demonstrated performance of delivering near-term
tangible commercial benefits via its machine learning solutions has
already generated profitable growth. Today's investment should
accelerate Insight's reach and is the first step in our growing
alliance. We look forward to working with Steve Cracknell and his
team in realising Insight's enormous potential."
Steve Cracknell, CEO and founder of Insight commented:
"The tools we are developing are designed to leverage the data
analysis and insight advantages offered by machine learning, whilst
giving users the flexibility to overlay their own expertise. This
combined with the speed and scale that cloud computing and DevOps
offers, will make the immense power of machine learning and AI more
readily accessible to investment professionals and the broader
financial services sector. Our partnership with Catena will allow
us to accelerate the development of these tools and expand the
reach of our business."
* ENDS *
This announcement has been released by Matthew Farnum-Schneider,
Chief Executive, on behalf of the Group.
For further information, please visit www.catenagroup.co.uk or
contact:
Catena Group PLC
Matthew Farnum-Schneider +44 (0)20 3744 0900
Cantor Fitzgerald Europe (Nomad and Broker)
David Foreman/Michael Boot/Adam Dawes +44 (0)20 7894 7000
St Brides (Financial PR)
Catherine Leftley/Beth Melluish +44 (0)20 7236 1177
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END
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