TMT Investments PLC Investment in Adinch, Inc. (2396Y)
February 20 2013 - 2:00AM
UK Regulatory
TIDMTMT
RNS Number : 2396Y
TMT Investments PLC
20 February 2013
20 February 2013
TMT INVESTMENTS PLC
("TMT" or the "Company")
Investment in Adinch, Inc.
The Board of TMT, which invests in high-growth, internet-based
companies across a variety of sectors, is pleased to announce the
completion of an investment in Adinch, Inc. Incorporated in
Delaware in 2012, Adinch, Inc. ("Adinch") has developed a universal
self-service mobile advertising platform (www.adinch.com), which
allows advertisers to organise advertising campaigns on iOS and
Android mobile devices and developers to monetise their mobile apps
and mobile websites.
One of Adinch's advantages is its innovative and unique
mediation feature that allows app owners to start using Adinch
without replacing their existing advertising network's software
development kit ("SDK"). Adinch's universal SDK operates alongside
all of the major existing mobile ad platforms, giving app owners
the opportunity to allocate traffic between various networks in
just several clicks. The system currently serves 10 million
impressions daily and has over 2.5 million monthly unique
users.
TMT has acquired 1,000,000 preferred shares representing 20.0%
of Adinch's fully diluted equity capital, for an aggregate
consideration of US$1,000,000.
The agreements between the parties include pre-emption rights,
liquidation preferences and other rights and protections in favour
of TMT customary for preferred stock holders. The acquired
preferred shares may be converted at any time into Adinch's common
shares at a 1:1 conversion rate.
According to the Interactive Advertising Bureau, the worldwide
mobile advertising market in 2011 was estimated at US$5.3 billion.
The US mobile advertising market alone is expected to reach US$12
billion by 2016, with the growing penetration of tablets and
smartphones being the major growth driver. 1.3 million new Android
and 0.5 million iOS devices are currently activated each day.
Adinch was co-founded by Alexey Semakin (CEO) and Andrey Semakin
(CTO), both graduates from the Moscow Engineering Physics
Institute. Previously they co-founded successful email service
Pochta.ru and developed a number of mobile applications.
Alexander Selegenev, Executive Director of TMT Investments PLC,
commented: "We see big potential in the mobile advertising segment
and believe Adinch's innovative product features will allow it to
capture a significant share of this growing market."
Definitive agreements for the transaction were entered into, and
the transaction was completed, yesterday. Adinch did not have any
financial accounts in respect of the year ended 31 December
2012.
For further information contact:
TMT Investments Plc +44 1534 281 843
Mr. Alexander Selegenev alexander.selegenev@tmtinvestments.com
www.tmtinvestments.com
ZAI Corporate Finance Ltd.
NOMAD and Broker
Marc Cramsie/Irina Lomova +44 20 7060 2220
Kinlan Communications Tel. +44 20 7638 3435
David Hothersall davidh@kinlan.net
About TMT Investments
TMT Investments PLC invests in high-growth, internet-based
companies across a variety of sectors and has a significant number
of Silicon Valley investments in its portfolio. Founded in 2010 and
with capital firepower of USD26m, TMT has invested in 23 companies
to date. The company's objective is to generate an attractive rate
of return for shareholders, predominantly through capital
appreciation. The company is traded on the AIM market of the London
Stock Exchange. www.tmtinvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
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