AI Technology Innovator to Power ICARO Products with Fastest-Breaking News and Actionable Insights in Real-Time for Better User Experience and Increased Target Revenue
New York, NY, December 3, 2020 — ICARO™ Media Group, a digital media technology company, today announces that it has entered into a definitive agreement for the acquisition of EVNTL in a cash and stock transaction in which subject to the agreement, ICARO has proceeded with an initial payment to EVNTL. EVNTL is an artificial intelligence (AI) technology leader specializing in machine learning, advanced algorithms, and predictive insights for security, investment, and breaking news events.
The acquisition of EVNTL will add over 20 AI technologists and engineer employees in Toronto, Canada and New York to the ICARO North America technology team.
EVNTL’s leading-edge AI technology has been integrated throughout the ICARO product suite, initially launching in December and January partnered with global telecoms, media companies and television networks with over 100M potential users in LATAM and North America.
“I am thrilled to announce that EVNTL’s leading-edge AI technology and unparalleled AI technology team are currently integrating throughout the ICARO technology platform and management team to provide the most advanced breaking news, media and e-commerce solutions to our global telecom and media partnerships,” stated Paul Feller, CEO and Chairman of ICARO Media Group. “The industry depth and experience EVNTL brings to ICARO leverages best-in-class AI through our SaaS marketplace platform and white-label Direct-to-Consumer product suite schedule which is currently in live production to a targeted 100M potential subscribers. EVNTL provides AI technology to gain detailed analytics, user behavior and interests and advanced targeting of hyper-focused revenue opportunities through advertising, pay-per-view video and e-commerce.”
“We are extremely excited to merge our team and technology into ICARO Media Group, an industry leader in media, commerce and telecom technology,” stated Marvin Igelman, CEO of EVNTL. “EVNTL’s leading-edge AI technology will empower ICARO to provide the fastest-breaking news and data from verifiable sources to industries where competitive advantage is measured in seconds, and across ICARO’s web, mobile, and OTT partnership devices.”
ICARO’s platforms support multi-language digital content to a growing list of publishers, telco partners and media groups. Primary languages will include English, Spanish, Portuguese, French and German. ICARO is headquartered in New York, with international offices located in São Paulo, Mexico City, Toronto and London.
ICARO empowers Global Telcos and Media Companies to create personalized content offerings and experiences for their customers complete with AI technology, fastest-breaking news features, real-time analytics, and advertising and E-commerce integrations. Through both its SaaS platform and AI-powered direct-to-consumer products, ICARO gives media companies and global telcos the ability to grow revenues, build audience, and access turnkey solutions to not only stay competitive in an evolving media and technology marketplace, but to be a leader in the media and technology marketplace. For more information, please visit www.icaromediagroup.com.
Forward-Looking Statements: Statements in this press release relating to plans, strategies, projections of results, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors. Although the company’s management believes that the expectations reflected in the forward-looking statements are reasonable, the company cannot guarantee future results, performance or achievements. The company has no obligation to update these forward-looking statements.