Digital Turbine, Inc. (Nasdaq: APPS) announced today that it has completed its acquisition of AdColony Holding AS (“AdColony”). The acquisition of AdColony, a leading mobile advertising platform servicing advertisers and publishers with a reach of more than 1.5 billion monthly global users, is integral to Digital Turbine’s expressed strategy to provide a comprehensive media and advertising solution for our operator and OEM partners while enriching the mobile experience for end users by delivering highly relevant content. Ad Colony’s proprietary video technologies and rich media formats are widely viewed as best-in-class technology delivering industry-leading third-party verified viewability rates for well-known global brands, such as Disney, Amazon and BMW.
“We are excited to have formally closed the acquisition of AdColony,” said Bill Stone, CEO of Digital Turbine. “We believe that this strategic transaction, along with the previously completed acquisition of Appreciate and pending completion of the Fyber acquisition, will synergistically accelerate our growth and is a real positive for our partners, advertisers, employees and shareholders. With the addition of AdColony, we will expand our collective experience, reach and suite of capabilities to benefit mobile advertisers and publishers around the globe. Performance-based spending trends by large, established brand advertisers present material upside opportunities for platforms with unique technology deployable across exclusive access to inventory.”
Also Read: The Secret behind Creating a Successful Customer Experience Operating Model
March Quarter Preliminary Results for AdColony
AdColony previously announced unaudited financial results for its first quarter ended March 31, 2021. Revenue for AdColony for the first quarter is estimated to be approximately $58.3 million, representing growth of 37% as compared to revenue in the first quarter of 2020.
All historical financial information for AdColony referenced above is based on International Financial Reporting Standards, is unaudited, and is subject to adjustment based on completion of the audit of AdColony’s financial statements, which adjustments may be material. Investors therefore should not place undue reliance on such unaudited financial information. Following the closing of the acquisition, the Company intends to file the financial statements of AdColony and furnish pro forma financial information as required by Securities and Exchange Commission rules.
For more such updates follow us on Google News TalkCMO News.
