6 Jul 2017 07:00
Matomy Announces Sale of Its Non-Core Businesses
Following the strategic focus announcement that Matomy Media Group Ltd. ("Matomy") (LSE: MTMY;TASE: MTMY.TA) published on 8 May 2017, Matomy is pleased to announce that we have entered into an agreement for the sale of our non-core businesses to Creative Clicks Media Group B.V. for a maximum of $11 million in cash and earn-out payments based on business performance. In line with Matomy's strategic focus, this transaction completes our planned exit from a broad range of activities that are no longer core to our long-term strategy, reflecting our new focus on programmatic mobile, video advertising and domain monetization.
Commenting on the transaction, Sagi Niri, CEO of Matomy said: "This sale represents an additional milestone in the execution of our new strategic focus. We are thrilled to have found a warm home for these team members, and wish Creative Clicks every success with the development of these activities."
Raymond Kokken, CEO of Creative Clicks, said: "We have been very impressed by the activities and the team. They will be an excellent addition to our business offering and we are confident they will deliver excellent value for our publishers, advertisers and shareholders."
About Matomy:
Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) Matomy is a global media company with a portfolio of superior data-driven platforms for mobile, video, domain and email advertising. By providing customized performance and programmatic solutions supported by internal media capabilities, big data analytics, and optimization technology, Matomy empowers advertising and media partners to meet their evolving growth-driven goals. Matomy's programmatic platforms include Mobfox for mobile, Optimatic for video, and the mobile, self-serve demand-side platform myDSP. Founded in 2007 with headquarters in Tel Aviv and 11 offices around the world, Matomy is dual-listed on the London and Tel Aviv Stock Exchanges. Learn more about Matomy at http://www.matomy.com.
Media Contact:
Justine Rosin
justine@headline-media.com
UK: +44 203-769-5656 | USA: +1 917-724-2176