Company anticipates increased growth as a result of this acceptance by the 2nd largest POS system and cloud reporting company globally.
VANCOUVER, British Columbia, April 22, 2021 – Loop Insights Inc. (TSX.V: MTRX) (the “Company” or “Loop”)— a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement and automated venue tracing to the brick and mortar space, announced that it has joined the Oracle Partner Network (“OPN”) initiating a relationship with a leading provider of POS systems and cloud reporting. This is a key relationship in Loop’s overall channel strategy, as these kinds of integrations extend our reach, allow us to work with retailers by connecting them to the cloud, and they drive high margins and faster time to market as no hardware is required.
Oracle is the second-largest POS provider in the world, representing 12% of the global POS market, according to a 2020 RBR POS report. OPN is Oracle’s global partner program for leading cloud technology companies around the globe. Being a part of the OPN enables Loop Insights to collaborate with one of the largest global POS providers for retail and hospitality and puts our Insights platform in front of thousands of retailers in the Oracle client base. This makes it easier for Oracle’s customers to work with Loop and get access to real-time data, multi-location reporting, and cross-channel marketing opportunities.
The POS terminals market overall is experiencing huge growth with a recent Researchandmarkets.com report predicting that the market will grow from US$68.20 Bn in 2019 to a staggering US$149.35 Bn by 2028, with a CAGR of 9.1% from 2020 to 2028.
This entry into the OPN marks the next step in Loop’s progression of POS integrations as the company continues to move towards the integration of all major POS systems. Being part of OPN will help get Loop in front of major brands and retailers in the Oracle network, which includes international chains like Gap and Burger King, and offers Loop a unique networking and business development opportunity.
Loop Insights CEO, Rob Anson stated: “Loop’s prominence and capabilities in the POS market are set to increase exponentially thanks to our acceptance into the OPN. As a result, we expect to see continued advances in both our client base and collaborations. This agreement offers us a great opportunity to leverage the Oracle brand and benefit from their resources and position as an industry leader. This further extends our POS market reach through channels, having reached agreements with Vend, Shopify, VenueNext, and now Oracle.”
The OPN is customer-focused and centers on the transition to cloud-based data and insights which perfectly aligns with Loop’s mission to provide customers with an end-to-end insights platform bridging the gap between on-premise and online. The Company anticipates that this relationship will initiate many new conversations with Oracle’s extensive portfolio of clients and collaborators, similar to what has been seen through other successful relationships such as becoming part of Amazon’s Preferred Partner Network and the partnership with Vend.
This press release is available on the Loop Insights Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management. https://agoracom.com/ir/LoopInsights.
Modern Oracle Partner Network is designed to add value to customers by enabling Oracle partners to leverage Oracle Cloud and other Oracle offerings to drive innovation, broaden the breadth and depth of market reach and to accelerate business growth. Through collaboration and integration with Oracle technology partners can reduce risk, reduce cost and deliver successful outcomes through digital transformation.
OPN empowers partners with the tools and resources needed to continuously develop expertise and competencies to benefit mutual customers.
About Loop Insights
Loop Insights is a Vancouver-based technology company that provides transformative artificial intelligence (AI) solutions to level the playing field between brick and mortar retailers and their online competition. Particularly, Loop’s technology aggregates online and on-premise data to enable real-time, data-driven marketing decisions for an enhanced customer experience. To close the consumer loop, the Company provides retailers and brands complete, real-time redemption metrics—something that does not exist in the brick and mortar environment today. Loop’s products integrate with clients’ existing legacy systems, which supports a seamless and convenient digital transformation.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
Notice Regarding Forward-Looking Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Transaction; post-closing objectives of Loop for acquired assets; the expectation of additional revenues to Loop post-closing; the expectation that Loop will be able to successfully integrate the acquired assets; that the Acquisition may position Loop for future growth; and that the vendors will assist Loop with the transition of operations post-closing. There are numerous risks and uncertainties that could cause actual results and Loop’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) COVID-19 risks; (ii) difficulties and delays associated with integrating and growing the acquired assets post-closing; (iii) risks inherent in the technology and AI industries in general; (iv) other factors beyond the control of the Company; and (v) risks outlined in Loop’s publicly filed documents available on SEDAR. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
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