Catena Group PLC Completion of Investment (4938F)

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RNS Number : 4938F

Catena Group PLC

09 March 2020

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

9 March 2020

Catena Group PLC

("Catena" or the "Company")

Completion of Investment in Insight Capital Partners Ltd, an artificial intelligence company

Catena Group plc (AIM: CTNA), a UK based venture capital company focused upon acquiring or investing in companies operating in high growth industries, is pleased to announce the completion of its maiden investment since refocusing its investing strategy and corporate rebranding, with a GBP1.5 million strategic investment in Insight Capital Partners Limited ("Insight")(the "Investment") to acquire an initial 9.1 per cent interest (on a fully diluted basis). Catena also has secured a six-month option to increase its holding up to 30.2 per cent. on the same terms as the Investment.

About Insight and the Rationale for the Investment

Insight is a data science and machine learning solutions company that combines quantitative research, machine learning and technology infrastructure to deliver bespoke analytical tools to clients enabling them to extract data from outdated platforms and improve the accessibility and insight locked within.

This initial Investment is directly in line with Catena's refocused strategy of investing in quality, fast growing companies. Machine learning is widely recognised as having the potential to fundamentally benefit performance and profitability in many, if not all, industries. Catena's investment is a first step toward a broader strategy to capitalise on growth opportunities in AI and machine learning.

Matthew Farnum-Schneider, CEO of Catena commented:

"We are delighted to have secured this investment in Insight. Machine learning is set to revolutionise the asset management and financial services industries and we believe that Insight is ideally placed to capitalise on the exponential growth in the sector. Insight's demonstrated performance of delivering near-term tangible commercial benefits via its machine learning solutions has already generated profitable growth. Today's investment should accelerate Insight's reach and is the first step in our growing alliance. We look forward to working with Steve Cracknell and his team in realising Insight's enormous potential."

Steve Cracknell, CEO and founder of Insight commented:

"The tools we are developing are designed to leverage the data analysis and insight advantages offered by machine learning, whilst giving users the flexibility to overlay their own expertise. This combined with the speed and scale that cloud computing and DevOps offers, will make the immense power of machine learning and AI more readily accessible to investment professionals and the broader financial services sector. Our partnership with Catena will allow us to accelerate the development of these tools and expand the reach of our business."

* ENDS *

This announcement has been released by Matthew Farnum-Schneider, Chief Executive, on behalf of the Group.

For further information, please visit www.catenagroup.co.uk or contact:

 
Catena Group PLC 
 Matthew Farnum-Schneider                                     [phone] 
Cantor Fitzgerald Europe (Nomad and Broker) 
 David Foreman/Michael Boot/Adam Dawes                        [phone] 
St Brides (Financial PR) 
 Catherine Leftley/Beth Melluish                              [phone] 
 

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March 09, 2020 12:45 ET (16:45 GMT)