Subjects: BUSINESS CONTRACTS, CORPORATE OFFICERS, JOINT VENTURES, MISCELLANEOUS, MISCELLANEOUS
VSBLTY, GRUPO MODELO & RETAILIGENT CREATE JOINT VENTURE FOR INTERNATIONAL DIGITAL IN-STORE MEDIA NETWORK
Philadelphia, PA, July 09, 2021 (GLOBE NEWSWIRE) -- VSBLTY Groupe Technologies Corp. (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) ("VSBLTY"), a leading software provider of security and retail analytics technology, along with Mexico's Grupo Modelo ("Modelo") (part of the AB InBev family of companies) and Retailigent Media today announced the signing of a Definitive Agreement to create a joint venture to install and manage an international in-store media network in Modelorama stores and independent neighborhood bodegas in Mexico and across Latin America as previously disclosed on March 15.
Active deployment is already underway in Mexico, Colombia, Peru, and Ecuador with 5000 locations to be installed by the end of 2021. Importantly, the international advertising network also will provide for the integration of store traffic and analytics, coupled with sales and security data, powered by Intel® NUC, VSBLTY artificial intelligence and Intel vPro® Platform for remote management. Tech Mahindra will provide infrastructure procurement and logistical services as part of its installation responsibilities. The company will also be responsible for network monitoring and management, as well as for remote support and on-site troubleshooting.
VSBLTY will be supplying its proprietary software for analytics, security, and visual display. VSBLTY Co-founder & CEO Jay Hutton said, "This leading-edge technology will enable the integration of store traffic and demographics with sales and other data that will help the stores in this first-of-its-kind network optimize their businesses in totally new ways." Hutton also stated," The three firms are equal partners in this exciting joint venture, and VSBLTY will earn revenue in two ways. VSBLTY will receive licensing fees for the proprietary software that will be leveraged by the joint venture, and?most significantly?VSBLTY will share in one-third of the annual operating profits from advertising revenue.
Pedro Garavito, Vice President of Technology & Transformation, Middle Americas, said, "We are excited to be working strategically with internationally recognized partners to accelerate the adoption of advanced technology and to create highly innovative intellectual property that will significantly transform retail and be exceedingly valuable to our clients and brand partners.
Investor Relations
CHF Capital Markets
Cathy Hume, CEO, +1-416-868-1079, x231
CONTACT: Linda Rosanio, 609-472-0877
About VSBLTY (vsblty.net)
Headquartered in Philadelphia, VSBLTY (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) ("VSBLTY") is the world leader in Proactive Digital Displaytm, which transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning.
About Grupo Modelo (gmodelo.mx)
Founded in 1925, Grupo Modelo is the leader in the production, distribution, and sale of beer in Mexico and since 2013 part of the world's largest brewing group, Anheuser-Busch InBev. The firm has 17 national brands, including Corona, and imports seven additional brands. Grupo Modelo operates 10 breweries in Mexico and has more than 32,000 employees.
CONTACT: Fernando Morales, +52 55 5174 9000 x55067
About Retailigent Media (retailigentmedia.com)
VSBLTY partners with Retailigent Media that has been a pioneer throughout Latin America in making
smart deployments at retail with digital displays and analytics. Retailigent Media also provides OOH traffic measurements and predictive advertising triggered by gender and age. The firm is helping retailers and cities improve their security with VSBLTY's Vectortm Face Recognition and Alerts.
CONTACT: Rodrigo Velasco, +52 1 55 9196 7427
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