Admission: Entertainment AI Plc (AIM)
Entertainment AI Plc (EAI) announced its successful acquisition of GTChannel, Inc. (GTC) and Tagasauris, Inc. (Tag), placing of £8.6 million and admission to trading on AIM.
EAI is a technology and media group, headquartered in Los Angeles, California. The group’s mission is to be a first mover in a video-first world or what is seen to be the coming Third Wave of TV following the broadcast and cable eras.
GTC creates its own video content, focused on automotive interests, and owns a Multi-Channel Network with approximately 10,000 content creator partners. 6.3 billion videos were viewed on GTC’s Multi-Channel Network in the six-month period ended 30 June 2019, amounting to $8.7 million gross advertising revenue.
Tag is an AI and machine-learning technology company that has historically served its technology to large media companies. Tag has a process for enriching videos and then serving video-based opportunities to audiences, such as GTC's, while they are watching videos.
Crowe's role and team
Crowe acted as reporting accountant to the transaction, with our capital markets team led by Mitesh Patelia and George Lawford.
Client quote
“This is the second AIM transaction that I have completed with the Crowe team and, once again, the Crowe capital markets team were an integral part of the transaction. Their expertise and proactive support enabled us to meet tight deadlines for a successful listing. We are impressed with Crowe’s ability to support US growth companies looking to list on AIM."
Dr Patrick DeSouza, Non-Execuive Chairman, EAI
