PR Newswire
London, November 23
MediaZest Plc ("MediaZest", the "Company" or "Group"; AIM: MDZ) New product launch and first contract win MediaZest, the creative digital out-of-home advertising company, is pleased to announce the launch of its own unique retail data gathering product, "MediaZest Retail Analytics". The product, which is 100% owned by MediaZest, has been developed in conjunction with Argus Global Biometrics Technologies Ltd pursuant to the memorandum of understanding announced on 15 January 2014. It is the first scalable intellectual property asset the Group has added since inception. The two parties expect to develop additional products together providing value-added services on top of the basic MediaZest Retail Analytics system, and these are expected to generate significant shared intellectual property assets for both parties. The product provides highly advanced reporting analysis for the retail sector, building on the Cognitec FaceVacs Videoscan platform. Using this face recognition platform, the system can provide anonymous data for the retailer and previously unavailable information to enable them to better understand their store dynamics, trading patterns and improve their customer offering and operational efficiencies. Despite only soft launching in October 2014, the Company has already made its first sale of, and deployed, the product to a global retailer for an initial site. It expects to announce further similar deals in the next quarter. Chief Executive, Geoff Robertson, said "This development is of tremendous significance for the Group. Recent high profile audio visual integration projects show how well the Group delivers its work but are by their nature longer term opportunities and timing can be difficult to predict. The MediaZest Retail Analytics system provides us with a product that in its very nature delivers constant information and reports to clients and as such will give us better ongoing monthly fees and much greater revenue visibility moving forward. We have seen a huge amount of interest in the product when showing existing and prospective clients and we expect it to have a big impact on the business over the next 12 months and beyond. By providing anonymous but genuine `big data' information to retailers we believe we are leading the market in the information currently available in bricks and mortar retail stores. The product is highly complementary to our existing services and indeed is helping us to measure the success of those services for the client whilst adding an additional revenue stream. We foresee existing customers using the system to ascertain success of audio-visual installations and a whole new set of customer using the system purely to provide data to help them run their businesses better." Enquiries: Geoff Robertson Chief Executive Officer MediaZest Plc 020 7724 5680 Gavin Burnell / Edward Hutton Nominated Adviser Northland Capital Partners Limited 020 7382 1100 Claire Noyce / William Lynne / Niall Pearson Broker Hybridan LLP 020 3713 4581 / 4582 / 4583 Notes to Editors: About MediaZest MediaZest is a creative media agency and audio visual systems integrator that specialises in providing innovative marketing solutions to leading retailers, brand owners and corporations, but also works in the public sector in both the NHS and Education markets. The Group supplies an integrated service from content creation and system design to installation, technical support and maintenance. MediaZest was admitted to the London Stock Exchange's AIM market in February 2005. For more information, please visit www.mediazest.com