The Laval, Que.-based consumer-packaged goods firm said it has entered into a non-binding letter of intent to buy Datasys, a U.S.-based data-marketing and artificial intelligence firm. Neptune’s proposed deal includes US$20 million in cash when the deal closes, US$32 million in restricted equity, and other payments over time for Datasys. (The Logic)

Talking point: The proposed transaction, which is still under negotiations, would be subject to shareholder and board approvals, and other terms and closing conditions. When it closes, Neptune would become a U.S. corporation and continue to operate Datasys’s business. Neptune’s shares rose to an intraday high of more than 36 per cent, or US$0.93 apiece, on the Nasdaq. Neptune was founded in 1998 and owns several health and wellness brands, including Sprout Organics. Clients of Datasys—which claims to have one of the largest consumer databases in the world—include Microsoft, Ford, Mastercard and Honda, according to a release.