22 Dec 2023 07:00
Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.
22 December 2023
Bidstack Group Plc
("Bidstack" or the "Company" or the "Group")
Settlement and new commercial partnership with Azerion
Bidstack Group Plc (AIM: BIDS) is pleased to announce that on 22 December 2023 it reached a settlement and new commercial partnership with Azerion. Following extensive discussions both parties have agreed to resolve the claims that are currently pending at the Amsterdam Court, any other commercial disputes and move forward collaboratively.
A total payment of EUR 3 million will be made by Azerion for the settlement and the new commercial partnership set out below.
Following the settlement, Bidstack and Azerion will enter into a new commercial partnership which will be operational in early 2024. Bidstack will work with Azerion's supply side platform, Improve Digital on a non-exclusive basis to enable Azerion to access Bidstack's premium gaming inventory.
James Draper, Founder/CEO, Bidstack said
"Bidstack and Azerion will move forward collaboratively following extensive discussions to settle all outstanding disagreements. We will resume working together in markets outside of the UK, USA, Canada, Australia, South Korea and Germany, to grow the in-game advertising market through Azerion's network of global and local brands."
Sebastiaan Moesman, CRO & CSO, Azerion said
"We are pleased to announce both the settlement of all past disagreements and a new commercial alliance between our companies going forward. After resolving our previous differences, what remains is two companies in the same industry with a complementary offering. We are therefore looking forward to re-establishing our relationship in 2024 and integrating Bidstack's technology and in-game advertising opportunities into our offering towards our advertisers again."
-ENDS-
Contacts
Bidstack Group Plc James Draper, CEO |
via SPARK |
SPARK Advisory Partners Limited (Nomad) Mark Brady / Neil Baldwin / James Keeshan | +44 (0) 203 368 3550 |
Stifel Nicolaus Europe Limited (Broker) Fred Walsh / Tom Marsh |
+44 (0) 20 7710 7600 |
Notes to editors
About Bidstack
Bidstack's technology empowers video game publishers to monetise and manage spaces within their virtual environments. Its platform provides real-time reporting, dynamic targeting and player communication tools for brand activations and fan engagement.
About Azerion
Founded in 2014, Azerion (EURONEXT: AZRN) is one of Europe's largest digital advertising and entertainment media platforms. Azerion brings global scaled audiences to advertisers in an easy and cost-effective way, delivered through our proprietary technology, in a safe, engaging, and high quality environment, utilizing our strategic portfolio of owned and operated content with entertainment and other digital publishing partners.
Having its roots in Europe and with its headquarters in Amsterdam, Azerion has commercial teams based in over 26 cities around the world to closely support our clients and partners to find and execute creative ways to make a real impact through advertising.