Ideanomics Completes the Acquisition of Timios Holdings Corp.

Rhea-AI Summary

Ideanomics (NASDAQ: IDEX) has successfully completed its acquisition of Timios Holdings Corp., a nationwide title and settlement solutions provider. Timios will maintain its leadership, branding, and operational structure while integrating into Ideanomics Capital. This acquisition is expected to enhance Timios's capabilities by leveraging Ideanomics' resources for client acquisition and product innovation. Timios is known for its innovative approaches in the real estate title and escrow services sector, which is undergoing significant technological disruption.

Positive

• Acquisition of Timios Holdings Corp. enhances Ideanomics' service offerings in title and settlement solutions.
• Timios retains its leadership and operational structure, ensuring continuity and stability.
• Ideanomics will support Timios in scaling operations, potentially leading to increased revenue and market expansion.

Negative

• None.

NEW YORK, Jan. 11, 2021 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") announced that is has completed its previously announced acquisition of privately held Timios Holdings Corp. ("Timios"), a nationwide title and settlement solutions provider. CEO Raymond B. Davison and President Joseph Montag will continue to lead Timios, and the company will retain its current leadership, personnel, branding, and culture and operate as an entity within the Ideanomics Capital division.

Timios combines difficult to obtain licenses, a knowledgeable and experienced team, and a scalable solutions platform to deliver best-in-class service through both centralized processing and a localized branch network. Timios has introduced significant product and service level improvements, becoming an innovator in the real estate title and escrow services industries - markets poised for technology disruption.  Ideanomics will assist Timios in scaling its business in various ways, including referring client acquisition and product innovation.

For more information, visit: ideanomics.com or timios.com

About Timios Holding Corp.
Timios is the Greek word for "honest," and that has guided everything we do since 2008. Our mission is simple: to provide an unparalleled real estate transaction experience for buyers, sellers, and professionals. By empowering our customers through innovation, providing total transparency, and simplifying every step, we've revolutionized the process to give our customers the control they deserve.

About Ideanomics
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Mobile Energy Global (MEG) division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions and services across the financial services industry. Together, MEG and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.

The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.

Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Investor Relations and Media Contact
Timios Holding Corp.
Ernie Lewis, SVP of Marketing
5716 Corsa Avenue, #102 Westlake Village, CA 91362
elewis@Timios.com

Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
ir@ideanomics.com

Valerie Christopherson / Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com

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SOURCE Ideanomics; Timios Holdings Corp.

FAQ

What is the purpose of Ideanomics' acquisition of Timios?

The acquisition aims to enhance Ideanomics' service offerings in title and settlement solutions and leverage Timios' innovative capabilities.

When was the acquisition of Timios by Ideanomics completed?

The acquisition was completed on January 11, 2021.

How will the acquisition impact Ideanomics' business strategy?

The acquisition is expected to increase Ideanomics' operational capacity in the real estate sector and potentially lead to revenue growth.

What are the expected benefits of Timios remaining under its current leadership?

Retaining current leadership ensures stability in operations and continues the innovative approach Timios has established in the market.