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Matomy Media Buys New-York Video Advertising Firm Optimatic Media
LONDON (Alliance News) - Matomy Media Group Ltd said Monday it has acquired New-York based video advertising company Optimatic Media Inc for a minimum of USD25.0 million.
Matomy said it will pay a minimum of USD25.0 million plus further contingent yearly earn-out payments payable based on Optimatic's earnings before interest, tax, depreciation and amortisation objectives, to be paid from Matomy's existing resources.
The company expects its combined revenue for 2015 to be over USD315.0 million.
Optimatic produced a pretax profit of USD1.6 million for the ten months to end-October.
"Optimatic is a great fit in Matomy's main growth engines, and substantially complements our mobile programmatic growth. In the coming years, video will play an important role in the revenue that will be generated from mobile advertising," said Chief Executive Officer and Co-Founder of Matomy Ofer Druker in a statement.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
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MTMY.L News
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