TMT Investments PLC Additional investment in Adinch, Inc. (6770P)
August 21 2014 - 2:00AM
UK Regulatory
TIDMTMT
RNS Number : 6770P
TMT Investments PLC
21 August 2014
21 August 2014
TMT INVESTMENTS PLC
("TMT" or the "Company")
Additional investment in Adinch, Inc.
TMT Investments PLC, which invests in high-growth,
internet-based companies across a variety of sectors, is pleased to
announce the completion of an additional investment in Adinch, Inc.
(www.adinch.com)
Incorporated in Delaware in 2012, Adinch, Inc. ("Adinch") is a
global RTB (real-time bidding) mobile ad network, leveraging big
data to deliver precision-targeted advertising campaigns worldwide.
Adinch provides its customers with an effective and efficient
solution to reach mobile users in North America, Europe, the CIS
and other regions. Buyers leverage the Adinch platform to manage
their advertising spending, simplify campaign tracking and obtain
actionable insights into their audiences. With Adinch, clients
receive instant access to over 200 billion monthly ad impressions
in 230 countries, on more than 200,000 mobile apps and mobile
websites.
Adinch addresses a massive mobile advertising market, which is
expected to grow globally from US$18 billion in 2013 to US$95
billion in 2018 at a CAGR of 49% (eMarketer, Dec 2013). Adinch
takes advantage of the fact that ad buying process is becoming
increasingly automated. In the USA alone, RTB digital display ad
spending is set to grow at a CAGR of 37% from US$1.92bn in 2012 to
US$12.51bn in 2018, according to an eMarketer forecast released in
2014.
TMT originally acquired 20.00% of Adinch's fully diluted equity
capital on 19 February 2013, for an aggregate consideration of
US$1,000,000, implying a pre-money equity valuation of
US$4,000,000.
As part of the current US$3 million equity fundraising, TMT has
acquired additional preferred shares in Adinch for an aggregate
consideration of US$600,000. Assuming the current round is fully
subscribed, TMT will own 19.99% of Adinch's fully diluted equity
capital.
Alexander Selegenev, Executive Director of TMT Investments PLC,
said: "The current equity fundraising is an important vote of
confidence in Adinch, and the new funds will provide additional
firepower for the company's future growth. We are also pleased that
the current fundraising is conducted at a substantially higher
equity valuation (U$9m pre-money), which will allow TMT to increase
the fair value of its original investment in Adinch by 80%, or
approx. US$800,000."
In March 2014, 101 Startup, a company owned by TMT's senior
managers German Kaplun, Alexander Morgulchik and Artyom Inyutin
acquired 60% of Adinch, also at US$9,000,000 equity valuation.
Assuming the current round is fully subscribed, 101 Startup will
own approximately 44.98% of Adinch's fully diluted equity
capital.
Definitive agreements for the transaction were entered into, and
the transaction was completed, yesterday.
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
Richard Morrison/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,
TMT has raised USD30m and invested in over 30 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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