Digital performance marketing services provider XLMedia plc (AIM:XLM) is to acquire a majority stake of 54% in Marmar Media Ltd for up to $7.36 million in cash.
Marmar specializes in performance based marketing for a number of verticals including apps, software entertainment and to a lesser degree gambling. Marmar generated revenues and EBITDA of $11 million and $2.2 million (non GAAP) respectively last year. Over 30% of Marmar’s revenues are derived from mobile devices and Marmar expects this rate to grow to over 50% in the current year. Marmar was founded 2011, is based in Tel Aviv and has 16 employees.
XLMedia’s stated strategy is to expand its business both organically and through acquisitions, while diversifying into new products and markets, and act as a consolidator in a fragmented market. The acquisition of Marmar is highly complementary to the Group’s existing business, and delivers key benefits.
XLMedia CEO Ory Weihs said, "Marmar complements the group’s offering, bringing additional know how and mobile understandings in additional markets and products."
Published by Globes [online], Israel business news - www.globes-online.com - on June 16, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015