Digital Turbine Acquires AdColony for $400 Million to Accelerate Growth with Strong Programmatic and Brand Exchange Business
February 26 2021 - 04:02AM
Otello Corp (OSE: OTELLO), Inc, owner of AdColony, the in-app
marketplace for brands, today announced the signing of a definitive
agreement to sell the global leader in mobile game advertising and
monetization, to Austin-based Digital Turbine (Nasdaq: APPS), a
global on-device mobile platform company, for a total estimated
consideration of $400 million.
“We are extremely excited to announce the
acquisition of AdColony today,” said Bill Stone, CEO of Digital
Turbine. “We look forward to welcoming the AdColony team to the
Digital Turbine family and believe that this strategic transaction
accelerates our growth and is a positive for our partners,
advertisers, employees and shareholders. AdColony saw the secular
tailwinds toward mobile, video and high-speed networks like 5G
before most and has been able to capitalize on its vision.”
"Digital Turbine offers many complementary and
additive solutions to AdColony’s performance business, while we
bring an industry-leading SDK footprint and a mature and thriving
brand and agency team to the partnership,” said Jude O’Connor,
AdColony’s chief revenue officer. “When you combine the reach and
capabilities of both companies, you have a powerful platform that
will drive growth and outcomes for any buyer that participates in
the mobile app economy."
AdColony has had a very successful turnaround over
the last three years, which was crowned with 15% year-over-year
growth in 2020 versus 2019 with very solid EBITDA margins, said
Otello and AdColony CEO, Lars Boilesen.
“AdColony is excited to join the successful team at
Digital Turbine. The underlying strategic rationale for the
combination is very promising,” said Boilesen. “We believe that
Digital Turbine, with its massive user base, extensive global
relationships and distribution, will be uniquely positioned to
benefit via the seamless integration of AdColony’s mobile video
advertising expertise and global brand advertiser awareness. The
combination will yield a highly-differentiated and more
vertically-integrated solution for the mobile advertising industry.
We look forward to joining Digital Turbine to help navigate this
innovation.”
The news comes less than a week before AdColony’s
official tenth anniversary as a company. The mobile game
developer-turned-ad-network officially became AdColony from Jirbo,
Inc. on March 3rd, 2011, and changed the mobile monetization and
user acquisition industry almost overnight with its InstantPlay™
video technology, and has continued to innovate over the past
decade, after being acquired by Otello in 2014.
More information on the sale, and AdColony’s
current financial results, can be found on Otello’s investor
relations page, https://www.otellocorp.com/ir/.
About AdColonyAdColony is one of
the largest mobile advertising platforms in the world, with a reach
of more than 1.5 billion monthly users globally. AdColony’s mission
is to drive business outcomes that matter for advertisers and
publishers using its best-in-class mobile technology, the
highest-quality mobile ad experiences and leveraging its curated
reach. AdColony is known throughout the mobile industry for its
unparalleled third-party verified viewability rates, exclusive
Instant-Play™ and Aurora™ HD video technologies, rich media
formats, global performance advertising business, programmatic
marketplace, and extensive SDK footprint in the Top 1000 apps
worldwide.
About Digital TurbineDigital
Turbine simplifies content discovery and delivers relevant content
directly to consumer devices. The Company's on-demand media
platform powers frictionless app and content discovery, user
acquisition and engagement, operational efficiency and monetization
opportunities. Digital Turbine's technology platform has been
adopted by more than 40 mobile operators and OEMs worldwide and has
delivered more than three billion app preloads for tens of
thousands of advertising campaigns. The company is headquartered in
Austin, Texas, with global offices in Arlington, Durham, Mumbai,
San Francisco, Singapore and Tel Aviv. For additional information
visit www.digitalturbine.com.
Media Contact:
Lacy TaltonBlast PR on behalf of
AdColonylacy@blastpr.com252-467-5220
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