Big Sofa Technologies Group PLC Agreement with Leading Market Research Company (4497B)
April 04 2017 - 1:00AM
UK Regulatory
TIDMBST
RNS Number : 4497B
Big Sofa Technologies Group PLC
04 April 2017
Embargoed: 0700hrs, 4 April 2017
Big Sofa Technologies Group plc
("Big Sofa" or the "Company")
Global Licence Agreement with a Leading Market Research
Company
Big Sofa (AIM: BST), a fast-growing provider of video analytics
technology and services to brands and consumer insight agencies, is
pleased to announce that it has signed a Master Service Agreement
with one of the top-five largest market research companies in the
world (the "MSA"). The MSA is a global licence for a SaaS and
services agreement, for an initial period of three years, which
sets out the terms upon which the entire market research
organisation and its affiliates may engage Big Sofa to provide
video analytics technology and services through a co-branded
platform in support of their rapidly increasing use of video and
images to help clients better understand consumers and markets.
The market research company has thousands of clients, annual
revenues of more than GBP1 billion and undertakes many millions of
surveys and thousands of qualitative research projects a year
through its global network of offices. The organisation is
increasingly incorporating video observation techniques and video
questions into its methods, often as a means of capturing real
behaviour rather than claimed behaviour, to deliver more accurate
insight and better value to its clients.
Big Sofa's highly scalable solution will enable the organisation
to collate, analyse and organise large volumes of video in order to
make efficient use of their content and extract genuine meaning
from it.
Client confidentiality does not allow for the disclosure of
further details of this agency at present.
Simon Lidington, Chief Executive of Big Sofa, commented:
"This is a potentially transformational development for Big Sofa
over the medium term. It is a major third party endorsement not
only of Big Sofa's technology platform, but also of our belief that
video is transforming the consumer insight industry and will be
central to the way brands and research agencies conduct and analyse
research in the future.
We have developed an excellent working relationship with this
leading organisation that recognises the strategic importance of
video as a medium and the value it adds to their research
methods.
We have already conducted dozens of ad hoc projects for them and
they have been impressed with the security, stability and
scalability of our video analytics platform.
Because Big Sofa approaches video analytics from a market
research perspective, we understand how best to help brands and
their research agencies manage and analyse their video content in
order to get the most out of it. We are delighted now to formalise
this relationship with a global MSA."
Enquiries
Big Sofa Technologies Group via Vigo Communications
plc
Simon Lidington, CEO
Matt Lynch, CSO
Joe MacCarthy, CFO
+44 (0)20 3368
SPARK Advisory Partners (Nomad) 3554
Neil Baldwin / Mark Brady
+44 (0)20 7070
Hobart Capital Markets (Broker) 5656
Lee Richardson / Raju Haldankar
Vigo Communications (Financial +44 (0)20 7830
Public Relations) 9700
Jeremy Garcia / Ben Simons
/ Antonia Pollock
About Big Sofa Technologies Group plc
Big Sofa is a B2B technology business servicing the marketing
and consumer insight industries with video analytics.
Our software platform collates, analyses and organises large
volumes of raw/unstructured video content enabling companies to
perform detailed and sophisticated consumer insight analysis; and
make genuine use of their video content.
Until recently, video has been difficult and expensive to
capture, upload, store, manage and analyse as a consumer insight
tool. However, proliferation of smart phones has empowered
consumers to speak directly to brands resulting in an evolution of
consumer insight and data analytics techniques, with video emerging
as a key platform in a massive $33 billion consumer research
market.
Big Sofa's shares are admitted to trading on the London Stock
Exchange's AIM market under the ticker BST.L.
To find out more, visit www.bigsofa.co.uk
Follow us on twitter at @bigsofatech
This information is provided by RNS
The company news service from the London Stock Exchange
END
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