LONDON (Alliance News) - Taptica International Ltd on Monday said it intends to change its name to Tremor International Ltd.
The advertising technology company said the new name will "better reflect its ongoing strategic and operational focus" following its merger with peer RhythmOne PLC.
In February, Taptica agreed a GBP135 million takeover of peer RhythmOne in an all-share merger deal to create a combined company worth about GBP300 million.
RhythmOne shareholders received 28 Taptica shares for every 33 RhythmOne shares held. The agreement valued RhythmOne at GBP135 million and saw RhythmOne shareholders taking a 49.9% stake in the combined firm with the remainder held by Taptica shareholders.
Taptica said: "The change in the company's name will enable it to leverage the existing positive brand value associated with Tremor Video, in particular in the US, which is a key growth opportunity for the enlarged group.
"The group's performance-based marketing division will retain the Taptica brand."
A special resolution to approve the name change will be proposed at the company's annual general meeting, which will be held on June 13.
"The last 18 months have been transformational for the group, culminating in the recent merger with RhythmOne," said Chief Executive Ofer Druker.
"This change will allow us to forge a new identity at group level whilst retaining existing brands and their customer relationships, providing a clear unifying structure to the organisation as we seek to further deliver shareholder value," added Druker.
Taptica shares were trading 2.1% higher on Monday morning at 169.50 pence each.
