Intouch Insight Signs a Letter of Intent to Acquire a Customer Experience Measurement Company

Intouch Insight Ltd. (“Intouch” or the “Company”) announces that on June 2nd it signed a non-binding Letter of Intent (“LOI”) to purchase all outstanding shares of an arm’s length North American customer experience measurement company (the “Vendor”), subject to TSX Venture Exchange approval (the “Acquisition”).

For reasons of competition and privacy Intouch will not disclose the name of the Vendor until the completion of a definitive agreement. The targeted closing date is September 1, 2023. The Vendor has approximately USD $5M in annual revenues and EBITDA of approximately 15%.

It is expected as set out in the LOI that the purchase price is USD $1.5M in cash upon closing, a USD $500,000 promissory note repayable over three years with interest, and additional contingency payments expected to be approximately USD $400,000 per year paid in cash based on annual performance for four years post-closing. Intouch intends to pay for the Acquisition from a combination of bank debt financing and ongoing cash flow generated from the Vendor’s ongoing business. Intouch will not assume any long-term debt from the Vendor, nor will it pay any finder’s fees.

“The proposed Acquisition is synergistic with our current business. We expect a smooth and efficient integration of the new clients who represent some exciting new brands for Intouch to work with. This transaction will increase our portfolio of clients to whom we can sell our entire suite of products, including our SaaS offerings. The Vendor’s business appears to be very well run and a respected organization in the industry. As such, we are looking forward to adding its management team and employee base,” said Cameron Watt, President and CEO of Intouch.

“The large investment Intouch has made in technological superiority continues to put us into a leadership position which is difficult to match and makes Intouch an attractive acquirer for owners looking for the right fit for their clients and their employees,” said Watt.

About Intouch Insight

Intouch Insight offers a complete portfolio of customer experience management (CEM) products and services that help global brands delight their customers, strengthen brand reputation and improve financial performance. Through its flagship SaaS product, LiaCX®, Intouch helps clients collect and centralize data from multiple customer touch points, gives them actionable, real-time insights, and provides them with the tools to continuously improve customer experience. Founded in 1992, Intouch is trusted by over 300 of North America’s most-loved brands for their customer experience management, customer survey, mystery shopping, mobile forms, operational and compliance audits, and event marketing automation solutions.

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