LOS ANGELES, February 26, 2021 (GLOBE NEWSWIRE) – Otello Corp (OSE: OTELLO), Inc, proprietor of AdColony, the built-in market for manufacturers, in the present day introduced the signing of a definitive settlement to promote the A world chief in cell sport promoting and monetization to Digital Turbine (Nasdaq: APPS), a worldwide mobile-to-device platform firm, for an estimated whole quantity of $ 400 million.
“We’re extraordinarily happy to announce the acquisition of AdColony in the present day,” stated Invoice Stone, CEO of Digital Turbine. “We look ahead to welcoming the AdColony workforce to the Digital Turbine household and imagine this strategic transaction accelerates our progress and is of profit to our companions, advertisers, workers and shareholders. AdColony has seen centuries-old favorable winds in the direction of cell, video and broadband networks like 5G earlier than most and has been capable of capitalize on its imaginative and prescient.
“Digital Turbine gives many complementary and additive options to AdColony’s efficiency enterprise, as we convey to the partnership a cutting-edge SDK footprint and a mature and profitable model and company workforce,” stated Jude O ‘ Connor, AdColony Director of Income. you mix the attain and capabilities of each firms, you’ve got a robust platform that can drive progress and backside line for any marketer concerned within the cell app financial system. “
AdColony has skilled a really profitable turnaround over the previous three years, which was capped by 15% year-over-year progress in 2020 in comparison with 2019 with very sturdy EBITDA margins, the CEO of Otello and AdColony, Lars Boilesen.
“AdColony is thrilled to hitch the profitable Digital Turbine workforce. The underlying strategic rationale for this mixture may be very promising, ”stated Boilesen. “We imagine that Digital Turbine, with its large consumer base, intensive international relationships and distribution, might be in a novel place to profit from the seamless integration of AdColony’s cell video promoting experience and model consciousness. of the worldwide model. The mix will lead to a extremely differentiated and extra vertically built-in resolution for the cell promoting trade. We look ahead to becoming a member of Digital Turbine to assist navigate this innovation. “
The information comes lower than per week earlier than AdColony’s official tenth anniversary as an organization. Cellular sport developer turned advert community formally grew to become AdColony of Jirbo, Inc. on March 3, 2011, and adjusted the trade of cell monetization and consumer acquisition nearly in a single day with its InstantPlay video expertise ™, and has continued to innovate over the previous decade, having been acquired by Otello in 2014.
Extra data on the sale and present monetary outcomes of AdColony could be discovered on Otello’s investor relations web page, https://www.otellocorp.com/ir/.
AdColony is likely one of the world’s largest cell promoting platforms, with a attain of over 1.5 billion month-to-month customers worldwide. AdColony’s mission is to drive vital enterprise outcomes for advertisers and publishers by using its cutting-edge cell expertise, the very best high quality cell promoting experiences, and leveraging its organized attain. AdColony is understood within the cell trade for its unmatched third-party verified viewership charges, proprietary Immediate-Play ™ and Aurora ™ HD video applied sciences, wealthy media codecs, international efficiency promoting enterprise, programmatic market and huge SDK footprint within the high 1000 functions globally.
About Digital Turbine
Digital Turbine simplifies content material discovery and delivers related content material on to client gadgets. The corporate’s on-demand multimedia platform allows frictionless utility and content material discovery, consumer acquisition and engagement, operational effectivity and monetization alternatives. Digital Turbine’s expertise platform has been adopted by greater than 40 cell operators and OEMs worldwide and has supplied over three billion app preloads for tens of hundreds of advert campaigns. The corporate is headquartered in Austin, Texas, with international places of work in Arlington, Durham, Mumbai, San Francisco, Singapore and Tel Aviv. For extra data go to www.digitalturbine.com.
Blast PR on behalf of AdColony