Digimarc Corporation Finalizes Acquisition of EVRYTHNG Ltd.
The acquisition unites the world’s most powerful product identification engine with the industry’s most advanced product intelligence cloud platform
BEAVERTON, Ore. – January 3, 2022 – Digimarc Corporation (Nasdaq: DMRC), creator of Digimarc watermarks that are driving the next generation of digital identification and detection-based solutions, announced today it has successfully completed its previously announced acquisition of the Product Cloud company EVRYTHNG Ltd, based in London, UK.
The combined company will continue to be listed on the Nasdaq under the symbol “DMRC”.
As EVRYTHNG becomes part of Digimarc, it enables a complete solution set for customers, combining the best form of identification with the best cloud platform for gaining and managing the intelligence unlocked by that identification of objects.
“Not only did this acquisition makes financial sense, with a high-margin business, at a good price with upside and downside protection, but also good strategic sense,” explains Digimarc CEO Riley McCormack. “This acquisition brings Digimarc new potential in the product cloud, powers up our ability to sell stand-alone solutions, and provides future cross-selling opportunities by providing more on-ramps to our dual networks. In addition, we can leverage the complementarity of our geographic presence, expanding our business and hiring and retaining the best talent globally.”
EVRYTHNG is the market leader and pioneered the Product Cloud category, linking every product item to its Active Digital Identity™ on the web and joining-up product data across the value chain for visibility, validation, real time intelligence, and connection with people.
From enabling more sustainable, more transparent, and more secure supply chains to empowering consumers to verify the authenticity of products and recyclability of its packaging, combining Digimarc’s unique means of identification with the EVRYTHNG Product Cloud® makes it possible to gather and apply traceability data from across the product lifecycle, unlocking end-to-end visibility and authenticity through item-level, real-time intelligence and analytics.
The acquisition expands the geographic footprint for both companies. EVRYTHNG, based in London with offices in New York, Beijing, Minsk, and Lausanne is finding much success in North America. Conversely, Digimarc, based in the Portland, Oregon area, has a growing customer base across Europe.
Additional Transaction Details
Digimarc acquired all of EVRYTHNG’s outstanding share capital and EVRYTHNG became a wholly owned subsidiary of Digimarc. Upon the Closing, Digimarc acquired all outstanding shares of EVRYTHNG’s share capital in exchange for aggregate initial consideration consisting of shares of Common Stock of the Company, par value $0.001 per share, warrants to purchase shares of Company Common Stock, and approximately $5,000 of cash, which cash was paid in lieu of shares to an unaccredited investor, and subject to certain conditions, an additional number of shares of Company Common Stock as described in Item 1.01 of the Current Report on Form 8-K that the Company filed with the Securities and Exchange Commission on November 15, 2021 describing the Acquisition.
Additional details and information about the terms and conditions of the acquisition are available in a current report on Form 8-K filed by Digimarc with the Securities and Exchange Commission.
Digimarc Corporation (NASDAQ: DMRC) is a pioneer and leader in digital watermarking solutions and the automatic identification of media, including packaging, commercial print, and digital images. Digimarc helps customers drive efficiency, accuracy and security across physical and digital supply chains. Visit www.digimarc.com and follow us on LinkedIn and Twitter to learn more.
The EVRYTHNG Product Cloud® helps global consumer product brands run their businesses differently by knowing what their products know. The EVRYTHNG Product Cloud® links every product item to its Active Digital Identity™ on the web—joining-up product data at every point in the value chain for visibility, validation and real-time intelligence and to connect with people. EVRYTHNG is a World Economic Forum Global Innovator. Its founders originated the Web of Things. Learn more at EVRYTHNG.com and @EVRYTHNG.