4 Feb 2019 13:46
Taptica to buy RhythmOne for £135m
(Sharecast News) - Mobile video advertising company Taptica International has agreed to buy RhythmOne for approximately £135m in shares.
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Don't have an account? Click here to register.RhythmOne to buy Canada's Perk for $42.5m
Mon, 05th Dec 2016 09:04
(ShareCast News) - Video search company RhythmOne is to buy Toronto-listed Perk, a mobile-first rewards and engagement platform, for $42.5m in a bid to strengthen its scale and platform.The AIM-listed company has agreed to buy Perk's issued outstanding common and class A shares and certain employee options, in a deal expected to close in January 2017.The total consideration of $42.5m will be paid in RhythmOne shares at 0.381p each, on the issue of 88.2m shares, raising the total number of outstanding shares to 494m.The acquisition of Perk's employee shares will be exchanged for 4.51 RhythmOne shares at 0.381p worth about CA$2.90.Subhransu Brian Mukherjee, chief executive of RhythmOne, said: "The acquisition of Perk builds on our transformation toward core mobile, video and programmatic products that drove strong results in the first half of the 2017 financial year. RhythmMax, which is now in full commercial production, is the principal driver of RhythmOne's growth and provides significant operational gearing potential."Our goal now shifts to fortifying and scaling the platform, and Perk's products are perfectly aligned with this strategy - allowing us to programmatically enable the acquisition's premium inventory. Perk adds unique mobile supply at scale, as well as key strategic demand relationships that are complementary to ours."Mukherjee said Perk is expected to materially advance the company's financial performance and help to scale a platform to drive industry-wide consolidation in the second coming of ad tech. The company looks to develop Perk's owned and operated apps and websites to build an efficient and effective platform for digital advertising and content distribution.For the year ended December 31, 2015, Perk generated revenue of $49.3m and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of $8.4m.The acquisition is expected to upgrade to revenues in the 2017 financial year, and be accretive to RhythmOne in the first full year of ownership.Shares in RhythmOne were up 3.2% to 38.70p at 0902 GMT.
More News
30 Jan 2019 08:32
Taptica in advanced talks to buy RhythmOne
(Sharecast News) - Taptica confirmed on Wednesday that it is in advanced discussions with RhythmOne about a potential takeover of the company in an all-share deal.
Read more13 Dec 2018 09:44
Rhythmone cuts loss as revenue soars on integrated acquisitions
(Sharecast News) - RhythmOne's shares were boosted on Thursday after the digital advertising technology outfit cut its interim losses as the integration of YuMe spurred revenue growth.
Read more20 Nov 2018 12:36
RhythmOne enters anti-fraud collaboration with Pixalate
(Sharecast News) - RhythmOne on Tuesday formed a partnership with Pixalate to integrate the company's traffic-detection and filtration technology into its platform offering.
Read more19 Jan 2017 08:39
RhythmOne buys rewards and engagement platform for $42.5m
(ShareCast News) - Digital media firm RhythmOne has bought Perk, a Canada-based mobile-first rewards and engagement platform, for $42.5m in order to strengthen its scale. The AIM-listed company announced that it closed the deal on Thursday, after it agreed to buy Perk's issued outstanding common and
Read more5 Jan 2017 10:00
RhythmOne appoints Richard O'Connor as CFO
(ShareCast News) - AIM-listed digital advertising company RhythmOne has appointed Richard O'Connor as its new chief financial officer. He will take over from Ed Reginelli, who has decided to step down after five years in the role, following a "suitable handover period" and Reginelli will be availab
Read more15 Nov 2016 13:39
RhythmOne encouraged by reduction in H1 pretax loss
(ShareCast News) - RhythmOne is encouraged to see its first-half results reflect its strategic and operation focus on core mobile, video and programmatic products. The company booked a first-half pre-tax loss attributable to shareholders of $10.9m, from a year-earlier loss of $79.5m. Chief executiv
Read more11 Oct 2016 11:38
RhythmOne shares rise on first-half revenue growth
(ShareCast News) - RhythmOne provided a preliminary update on its expected performance for the half year to 30 September on Tuesday, flagging revenues of at least $80m, 80% of which was derived from core mobile, video and programmatic products. The AIM-traded firm said it made programmatic revenues
Read more11 Oct 2016 07:21
12 Jul 2016 08:37
RhythmOne confident online ads will escape Brexit effect
(ShareCast News) - Online advertising agency RhythmOne, which changed its name from Blinxx in June, expressed confidence about returning to full year profitability and played down the effects of Brexit as trading in the first quarter "materially" beat expectations. A trading update for the first qua
Read more12 Jul 2016 07:26