An Ottawa SaaS firm has secured a listing on a U.S. exchange in an attempt to capitalize on its already strong presence south of the border.
Intouch Insight (TSX-V:INX), which develops software to help companies track customer engagement and satisfaction, announced Monday that as of Oct. 26 its shares are trading under the symbol INXSF on the OTCQB market in the United States as well as on the TSX Venture exchange.
CEO Cameron Watt said in a statement that the company hopes to attract interest from American investors with the U.S. listing.
"We feel that this listing will open up Intouch to a large group of potential new investors and allow our presence in the U.S. to grow substantially. This is in line with our revenues, which are primarily from the U.S. market and growing as a percentage of sales every year," he said.
Shares of Intouch Insight have not performed well north of the border this year. The Ottawa firm’s share price has dropped 40 per cent from its January high of 70 cents, trading at 42 cents before markets opened on Monday.
Despite the declining stock, Intouch’s leadership has been high on the firm this year after releasing a new customer experience platform in May. Watt told OBJ then that he had purchased 300,000 shares in the firm himself because he believed it to be “on sale.”