Marimedia To Acquire Taptica For Up To USD15.6 Million

LONDON (Alliance News) - Marimedia Ltd Thursday said it has exercised its option to acquire all ...

Alliance News 31 July, 2014 | 12:01PM
Email Form

LONDON (Alliance News) - Marimedia Ltd Thursday said it has exercised its option to acquire all of mobile advertising technology company Taptica in a deal worth up to USD15.6 million.

The technology services company said it will pay between USD11.6 million and USD15.6 million for Taptica, depending on its trading performance.

Marimedia said the acquisition is in line with its strategy of investing in mobile advertising technologies to keep pace with the market.

"A combined business offering will allow up-selling of the Taptica offering to publishers which will make Marimedia a more attractive partner for publishers and provide scale and value-add to the company," it said.

The company said the acquisition will be funded using its own resources, with cash and shares.

Marimedia shares were up 0.3% late morning Thursday, trading at 161.50 pence.

By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty

Copyright 2014 Alliance News Limited. All Rights Reserved.

Email Form
Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Marimedia Ltd 128.50 GBX 3.21 -
About Author Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.