Logiq Inc. (NEO:LGIQ.AQN, OTCQX:LGIQ), a provider of digital consumer acquisition solutions, said it recently signed a managed services contract with an undisclosed client that is estimated to generate $2 million to $3 million in revenue per month going forward.
The client, whose name was not disclosed for competitive reasons, is a mid-sized operating business, not an agency nor a reseller, Logiq noted.
Brent Suen, Logiq’s chief executive officer, said in a statement: “We’re extremely happy to report the new client win. This contract was already in the new business pipeline of Battle Bridge, a digital marketing firm that we acquired earlier this year.
“This contract speaks to an often-overlooked aspect of our acquisition strategy. New business leads are not normally valued on a balance sheet, but it is a key component of our due diligence process.”
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Suen continued: “By consolidating Battle Bridge with Logiq, major operational synergies were quickly achieved increasing our depth of expertise and expanding the range of services we can offer in-house -- enabling us to better compete for more and larger new business opportunities.”
The CEO said Logiq’s goal is to provide its new client, and others, with access to programmatic advertising to boost their arsenal of advertising and marketing technologies.
The company’s acquisition of Rebel AI in 2021 facilitates the on-ramp to ad exchanges for small to medium-sized businesses, he noted.
Travis Phipps, founder of Battle Bridge and sales lead for Logiq Agency Services, added: “I couldn’t be more pleased with our recent new client traction and expect further wins similar in size to this one. Although we’re not at liberty to provide the name of the client, we are able to say that the new client is in a ‘compliant’ industry where product marketing and advertising is highly regulated.
“This builds upon our previously announced directional change towards compliant and regulated vertical markets such as Cannabis, eSports, gambling, and crypto,” Phipps said.
Battle Bridge is wholly owned by Logiq’s 100%-owned subsidiary DLQ, Inc. which recently announced a definitive agreement to merge with Abri Merger Sub Inc, a wholly-owned subsidiary of Abri SPAC I Inc, a special purpose acquisition company (SPAC). Upon closing of the business combination, the combined company is expected to remain NASDAQ-listed under the name DataLogiq, Inc.
Logiq is a US-based provider of e-commerce and digital customer acquisition solutions that simplifies digital advertising. It provides data-driven, end-to-end marketing through its results solution or by providing software to access data by activating campaigns across multiple channels.
Contact the author at jon.hopkins@proactiveinvestors.com