NowVertical Revamps Smartlytics Agreement to Complete Product Group Integration

TORONTO, May 01, 2024 (GLOBE NEWSWIRE) -- NowVertical Group Inc. (TSXV: NOW) (OTCQB: NOWVF) (“NOW” or the “Company”), is pleased to announce that NOW and Mostafa Hashem, NOW’s EVP Product & Technology have agreed to amend the outstanding earnout obligations governing NOW’s acquisition of Smartlytics Consultancy Limited (“Smartlytics”). In connection with the amendment, the incentives that Mr. Hashem would have received as a former owner of Smartlytics have been adjusted with the objective of rewarding Mr. Hashem for building an integrated product group that encompasses all of NOW’s existing software assets; whereas the former earn-out provisions were based on performance of the Smartlytics business unit only. Mr. Hashem was promoted to the EVP Product & Technology role in early 2024.

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