Israeli ad-tech company Tremor International (Nasdaq: TRMR; LSE: TRMR) has announced that it is acquiring Israeli advertising platform company Amobee for $239 million from Singtel (Singapore Telecommunications). Singtel bought Amobee ten years ago for $321 million.
Amobee was founded by Zohar Levkovitz, Gil Shulman, and Saul Rurka. The company has developed a digital platform to maximize advertising results for advertisers and media companies, and operates in the linear broadcasting, smart TV, and digital media sectors. Tremor, formerly called Marimedia and Taptika, and managed by CEO Ofer Druker, has developed a commercial platform based on data for advertisers about the type of media and various devices, in order to streamline commerce between advertisers-buyers and sellers.
Tremor is traded on Nasdaq and in London with a market cap of $746 million. At the end of June the company reported that it had $360 million in cash so that the acquisition will be financed with some of this money, a new debt of $100 million and a rolling credit facility of $50 million. The deal is due to close in the third quarter of 2022, subject to regulatory approvals.
Druker said, "The acquisition of Amobee is expected to build upon Tremor International’s growth strategy and proven track record of successfully integrating companies that enhance and expand the capabilities and scale of its data-driven end-to-end technology and business platform, focused on CTV and video. Amobee would add several capabilities including campaign execution across linear and digital channels within a single platform. Additionally, the Transaction would fulfill our strategy to add significant global scale and self-service growth to our demand side platform, increase our US and international customer reach and data footprint, and drive more advertiser spend to our SSP, Unruly."
For the twelve months ended June 30, 2022, Amobee generated preliminary unaudited Contribution ex-TAC of approximately $150 million, excluding the results from Amobee’s Email Marketing Platform, which would reflect a significant addition to Tremor’s platform.
Published by Globes, Israel business news - en.globes.co.il - on July 26 2022.
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