Market sources believe the digital advertising company will soon be sold at a premium of 69% on its closing price on Nasdaq last night.
Market sources believe that digital advertising company MediaMind Technologies Inc. (Nasdaq: MDMD) is about to be sold for $520 million. This would be a 69% premium on last night's closing share price on Nasdaq of $15.94, which gave a market cap of $303.21 million.
The company's largest shareholder is the Barkat brothers BRM Capital (26.5%). MediaMind held its IPO on Wall Street less than a year ago when it raised $57 million at a company value of $206 million. Another major winner from any exit will be the Insight Fund, which holds a 17.5% stake in MediaMind.
In 2010, the company grew revenue by 24% to $80.8 million, while net profit was 8.7 million. In the first quarter of 2011 revenue rose 17% to $18.9 million and net profit was $599,000.
Published by Globes, Israel business news - www.globes-online.com - on June 16, 2011
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