US media platform Digital Turbine, Inc. (Nasdaq: APPS) announced today that it has signed an agreement to acquire 95% of the shares in Israeli-German company Fyber (Frankfurt Stock Exchange: FBEN). Fyber's share price has risen 232% over the past year and Digital Turbine will pay a 71% premium on Fyber's current market cap of €295 million ($351 million) by paying $600 million - $150 million cash, $400 million in shares and $50 million in shares depending on future revenue.
Digital Turbine has a market cap of $7.2 billion and its share price has risen almost 2,000% over the past year.
Fyber CEO Ziv Elul founded Israeli company Inneractive, which was sold in 2016 to RNTS for $86 million and merged with the German company to become Fyber, which provides solutions for app developers and advertisers to generate revenue through focused advertising. Fyber chairman is Ofer Yehudai. The company has 250 employees in its offices in Petah Tikva, Berlin and elsewhere including 100 in Israel.
Elul said, "We are thrilled to become part of the team at Digital Turbine. Fyber completed an amazing turnaround story and became a key monetization partner for top publishers in 2020. Our focus on publishers, transparency and unbiased approach plays very well with Digital Turbine's vision and what the market wants. Digital Turbine's on-device platform is a unique asset that offers tremendous synergies that our own products will be able to leverage and continue our exponential growth. Combined with the AdColony and Appreciate assets, we offer a unique and profitable growth platform. Most importantly, we are very encouraged about the similar workplace cultures and approaches that should facilitate a more seamless integration of the businesses."
Digital Turbine CEO Bill Stone said, "Combined with our recently announced AdColony and Appreciate acquisitions, Fyber represents an extremely valuable puzzle piece for Digital Turbine to strategically assemble one of the largest full-stack mobile advertising solutions in the industry that will be advantageously positioned to leverage the Company's vast device distribution footprint and array of innovative products, such as Single-Tap. We believe that we will have all of the critical elements of a truly unique next-generation ad-tech ecosystem that, once integrated, will enable Digital Turbine to play a far more prominent and profitable role in the fast-growing and secularly-thriving $200+ billion mobile advertising and connected TV marketplace."
Published by Globes, Israel business news - en.globes.co.il - on March 22, 2021
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