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Location Sciences sales rack up as companies seek accurate data

Snapshot

  • Its core asset is Verify, the world's first independent location verification product
  • Verify rolled out in North America earlier this year
  • Revenues skyrocketed 94% in the first half to nearly half a million
Location Sciences Group PLC -

Quick facts: Location Sciences Group PLC

Price: 1.25 GBX

LSE:LSAI
Market: LSE
Market Cap: £4.71 m
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What it does

Location Sciences Group PLC (LON:LSAI) helps companies connect the online world with the offline world using mobile location technology data.

It taps into the US$160bn digital advertising industry, working in partnership with brands, media agencies and suppliers to reduce ad-wastage and improve the effectiveness of location-based advertising campaigns. 

Its core product is Verify, the world's first independent location verification product, which detects location ad-fraud and shines a light on location data inaccuracy with the aim of bringing back integrity, transparency and trust to the digital marketplace.

Among its clients there are billboard advertiser JCDecaux, the world's largest outdoor ad company, and the7stars, the UK’s largest independent media agency, which serves huge brands such as Papa Johns and Nintendo.

 

How it is doing

Location Sciences reported revenues growth of 60% to £1.2mln for 2019 and said it had agreed to sell its location data collection assets to US location specialists X-Mode as part of a new partnership.

The AIM-listed company has over the last year increasingly been focused on growing its verification platform, Verify.

X-Mode will pay up to US$640,000 in cash, with an initial payment of up to US$180,000 and the balance to be paid monthly until December 2021.

 

What the boss says: Mark Slade, chief executive

“Strategically, this deal fulfils the board's decision to focus the team and our resources on the scalable business model - verification and measurement insights”.

The partnership, he said, will also give Location Sciences “access to the largest pool of quality location data globally”.

 

Latest Proactive research video

 

Inflexion points

In September, the AIM-listed firm raised £600,000 by issuing 27.2mln new shares to support the group’s investments in the US market, specifically the growth of its Verify platform, through new hires and additional marketing spend.

The Verify advisory team includes industry veteran Andy Roberts, the former global head of trading at MindShare, a subsidiary of FTSE 100 media giant WPP PLC (LON:WPP).

 

Blue Sky

  • Location Sciences says the digital advertising market place remains unregulated and unmonitored, with an estimated US$19bn wasted on ad-fraud in 2018
  • Analysts say it offers a unique verification solution into a mobile advertising market of more than US$145bn
  • The company says it laid "solid foundations" to grow Verify globally

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Full interview: Location Sciences Group releases state of privacy and...

Location Sciences Group PLC (LON:LSAI) Chief Business Officer Jason Smith tells Proactive the AIM-listed company which provides verification and analytics services for location data, has released its state of privacy and location marketing report.  Smith says the report is in response to...

on 23/1/20

2 min read