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Proxama

Sale of Digital Payments division

QuickView | Media | 01 Nov 2017

Proxama has today announced the sale of its Digital Payments division for up to GBP 2m, less working capital and fees. The proceeds will be used to provide working capital to the mobile location data intelligence division, which becomes the exclusive focus of the group. In light of this, management is proposing to rename the group Location Sciences, subject to shareholder approval. Mark Slade, currently MD of this division, has replaced John Kennedy as CEO.

Proxama

Leveraging its unique mobile location data

QuickView | Media | 18 Sep 2017

The launch of the Location Sciences division marks Proxama's strategic shift from proximity marketing to the more scalable location data products. This first-party data is very high quality and can be used for customer targeting and advertising attribution. Management is focused on rapidly growing audience reach and data revenues to bring the group to break-even. While early in its transition, progress is encouraging; the National Rail partnership announced in July increases its audience to over c 4m.