Digital identification and detection-based solutions provider Digimarc has entered into a definitive agreement to acquire London-based IoT data and real-time insights platform EVRYTHNG in a stock transaction. According to an SEC filing, the purchase price is set at $50 million with a second tranche based on, “reaching $10 million ARR by Feb 28, 2022, for a price that will be calculated at the time on a fixed share price of ~47.5$ per share”. Additionally, Digimarc has agreed to provide EVRYTHNG with a bridge loan of up to $2 million.
Founded in 2011, chances are, something within your view right now has passed through a database or two at EVRYTHNG. Tracking and tracing everything from raw materials right on through to the recycling phase, EVRYTHNG assigns a digital twin to any physical object imaginable and provides a tremendous amount of product intelligence data, all available in a centralised location. Just a sampling of EVRYTHNG’s client list includes household names such as Ralph Lauren, Puma, Coca Cola, and ABInBev.
Now, providing accountability to that supply chain, when merged with Digimarc’s method of identification the authenticity of products and the ability of their packaging to be recycled, for example, will not only provide complete visibility but also the means to verify it.
“By combining Digimarc’s unique and advanced means of identification with the pioneer and most advanced supplier of product item business intelligence using any means of identification, we are now uniquely positioned to unlock additional solutions for our customers and enhance their Digimarc journey,” explained Digimarc CEO Riley McCormack.