DataPOWA Acquisition to Aid Commercialisation of IXUP Technology

Friday, 21 May 2021 09:39

DataPOWA Acquisition to Aid Commercialisation of IXUP Technology

Company News: Company management teams have always seen the worth of outside experts analysing the ‘big data’ coming out of their business operations; However, any such procedure always came with unwanted privacy, compliance and/or cybersecurity complications. The very real nature of these concerns is demonstrated on an almost daily basis, as one company after another are forced to handle the fallout, reputational damage included, from the loss or misuse of their data.

Technology company IXUP Limited has the solution to such security- and compliance-related problems. It has created a unique privacy-preserving analytics platform that protects data not just when stored but also when used.

In April 2021, IXUP announced the first commercial application of its proprietary owned encryption technology. UK-based sports technology company DataPOWA incorporated the IXUP-created Secure Data Engine technology into its revolutionary AI-driven sports sponsorship valuation tool POWA index 2.0. The latter product is now gaining traction, securing its first commercial customer, the prominent international FIFA sporting confederation Concacaf.

Now IXUP has made the strategic decision to acquire DataPOWA in an AUD$12m cash/equity transaction (inclusive of future performance-determined deferred considerations). The deal provides IXUP with ownership of and access to, DataPOWA’s valuable and complementary technology, existing client list, domain expertise. It also provides an expressway to market for IXUP’s Secure Data Engine.

The rationale behind the deal was straightforward. Buying DataPOWA was seen as the best way to secure maximum value for IXUP shareholders. The underlying value will be unlocked by the imminent commercialisation of the POWA index 2.0 product. IXUP would be repositioned within the large and lucrative sports data market, delivering compelling product integration and new product development opportunities. The buy also opens the way for IXUP to penetrate the rapidly growing digital sports betting market, a segment adjacent to DataPOWA’s sports data heartland.

Importantly, IXUP has, as part of the acquisition, taken steps to ensure key personnel at DataPOWA stay on board. Key members of the acquired business have entered into new Executive Service Agreements, ensuring that IXUP retains the existing institutional knowledge, relationships, and associated domain expertise to assist with and drive key growth metrics and operations.

IXUP’s purchase of DataPOWA has repositioned the Australian technology company within the large and lucrative sports data market and potentially the digital sports betting market that intersects it. It has shortened the odds of accelerated business growth being delivered.

About IXUP Limited (ASX: IXU)

IXUP Limited (pronounced ‘eyes up’) is a pioneering technology company that specialises in analytics over data that remains encrypted. IXUP’s privacy-preserving analytics platform can help solve important research, business, and policy problems by allowing data sets from different parties to be combined and analysed in a secure environment with full control. While conventional encryption techniques protect data when stored or in transit, they fail to protect data when it is in use. The IXUP platform uses advanced encryption and computing techniques, including homomorphic encryption, that enables analytics over data without ever needing to decrypt it, preventing data from being vulnerable to loss and misuse.

IXUP Limited website https://ixup.com/

About DataPOWA Limited

DataPOWA is a UK headquartered business offering specialist data and technology services to the global sports sponsorship data market. It has historically focused on product development and refinement, with only a recent move towards commercialisation and monetization. The company launched version 1 of its POWA Index, a SaaS deployed measurement of sponsorship power, AI valuation, predictive analysis & ranking system, in 2019. It covers over 2,500 teams, leagues, and events from 46 different sports tracked in real time. The POWA Index provides for real-time effective decision making for rights holders, agencies and brands alike, measuring auditable datapoints relevant to the digital age, in virtually real time.

DataPOWA operates a license fee SaaS model, with an initial focus on sporting clubs, leagues and rights holders. The business also has broader applications, including sponsors and brands, advertising agencies and media outlets. Future target markets include the entertainment, music, fashion and automotive industries, including many others. DataPOWA has an existing client list that is currently utilising the POWA Index product under a low or no fee arrangement. It expects to convert progressively to full paying customers and to POWA Index 2.0 over the course of 2021 and beyond.

DataPOWA website https://datapowa.co.uk/

GRAND OPENING OF THE ITWIRE SHOP

ENTER THE SHOP NOW!

INTRODUCING ITWIRE TV

SEE WHAT'S ON ITWIRE TV NOW!