St. Joseph Inc. has acquired Fastbase AI Corporation as the publicly traded company moves to expand its focus on artificial intelligence and data intelligence technologies. Financial terms of the acquisition were not disclosed.
Fastbase AI develops website visitor identification, lead generation, and business intelligence technologies designed to help companies understand who is interacting with their digital properties.
Its software analyzes web traffic and online behavior and can convert anonymous website visitors into identifiable business leads with company and contact information.
The acquisition represents a significant strategic shift for St. Joseph, which has historically described itself as a medical device, medical equipment, medical supply, and nutritional products company.
Following the transaction, St. Joseph intends to apply to FINRA to change its corporate name to Fastbase AI Inc., reflecting its planned emphasis on artificial intelligence.
The company does not currently anticipate changing its trading symbol.
St. Joseph trades over-the-counter under the STJO symbol.
Fastbase maintains a global business database that supports customer segmentation, sales prospecting, lead generation, and advertising optimization.
The company is also developing a next-generation AI-powered business search platform based on data covering approximately 350 million companies globally.
The planned platform is intended to allow customers to discover businesses, analyze markets, identify decision-makers, and produce actionable business intelligence through AI-powered search and analytics.
Fastbase’s existing products include website visitor identification tools that analyze visitor behavior and generate lead reports containing business and contact information.
Its lead generation platform uses real-time behavioral data to identify potential prospects from anonymous web traffic.
The company’s InMarket Leads product builds on Google Analytics data to identify companies searching for keywords relevant to a customer’s business.
Users can filter potential leads by criteria including keyword search dates and receive information such as company locations and key contacts.
Fastbase also offers Web Leads, which tracks website activity and provides information about organizations visiting a business’s digital properties.
Customer interaction products include communications tools, targeted popups, product tours, and other features designed to increase engagement and reduce churn.
As part of the transaction and related strategic changes, Mr. Ortiz is expected to become a director and officer of St. Joseph.
The acquisition gives St. Joseph an operating platform in AI-powered business intelligence while potentially making Fastbase the central identity of the combined organization.
“I am very pleased with the effort that has gone into building our portfolio with exciting and unique brands and products in the AI and data intelligence sectors.”
“Fastbase AI is an exciting acquisition and fits perfectly within our current mandate to expand our presence in artificial intelligence and data intelligence technologies.”
Christopher Studinger, CEO of St. Joseph Inc.
