China Advertising Services Business Discontinued
Sole Focus Now on Multi-Billion Dollar Data Fusion Market
BOCA RATON, Fla.--(BUSINESS WIRE)--Jul. 2, 2015--
IDI, Inc. (NYSE MKT: IDI), an information solutions provider,
today provided a business update in conjunction with the Company’s
transition into the high-growth data fusion market.
IDI has made the strategic decision to focus all of its operations and
resources to further accelerate its growth within the data fusion
market. As a result, the Company has discontinued its China advertising
services business.
Following the acquisition of Interactive Data, it has been the central
focus of IDI to leverage the 50+ years of combined experience of its
management team and its cutting-edge, advanced data analysis solutions
to be a primary provider of data fusion for the Risk Management and
Marketing industries, which represent a $13.6 billion market. In the
pursuit of becoming a leader in this market, the Company has made the
decision to consolidate its operations and focus all future investment
on its information solutions.
Mr. Dubner, Co-CEO of IDI, Inc. stated, “We believe our new business
focus will yield strong returns for our shareholders and take IDI to a
new level of growth in the near future. Focusing all of our strategic
efforts and resources on our information solutions business allows the
Company to continue its advancement within the high-growth data-fusion
market with a clean balance sheet and strong financial position.”
Additionally, in connection with the Company’s focus on its U.S.
operations, the Company has appointed Aaron Solomon as Interim Chief
Financial Officer of US Data Fusion Operations and Jacky Wang, the
Company’s former Chief Financial Officer, was appointed as Chief
Accounting Officer.
About IDI, Inc.
IDI, Inc. is an information solutions provider focused on the
multi-billion dollar data fusion market. IDI delivers otherwise
unattainable insight into the ever-expanding universe of consumer- and
business-centric data. Through proprietary linking technology, advanced
systems architecture, and a massive data repository, IDI will address
the rapidly growing need for actionable intelligence to support the
entirety of the risk management industry, for purposes including due
diligence, risk assessment, fraud detection and prevention,
authentication and verification, and more. Additionally, IDI's
cross-functional core systems and processes are designed to deliver an
unrivalled level of clarity into consumer data to support advanced
marketing analytics.
RELATED LINKS http://ididata.com/
Forward-Looking Statements Disclaimer
This press release contains “forward-looking statements,” as that term
is defined under the Private Securities Litigation Reform Act of 1995
(PSLRA), which statements may be identified by words such as “expects,”
“plans,” “projects,” “will,” “may,” “anticipate,” “believes,” “should,”
“intends,” “estimates,” and other words of similar meaning. Such forward
looking statements include statements about whether our new business
focus will yield strong returns for our shareholders and take IDI to a
new level of growth in the near future. There are a number of important
factors that could cause actual results or events to differ materially
from those indicated by such forward-looking statements, including the
risks set forth in IDI’s Annual Report on 10-K, filed with the SEC on
April 15, 2015, as well as the other factors described in the filings
that IDI makes with the SEC from time to time. You are cautioned not to
place undue reliance on these forward looking statements, which are
based on our expectations as of the date of this press release and speak
only as of the date of this press release. We undertake no obligation to
publicly update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150702005816/en/
Source: IDI, Inc.
IRTH Communications
Media and Investor Relations Contact:
Andrew
Haag, 877-368-3566
Managing Partner
idi@irthcommunications.com