AUSTIN, Texas, May 25, 2021 /PRNewswire/ -- Digital Turbine,
Inc. (Nasdaq: APPS) announced today that it has completed its
acquisition of Fyber N.V. (Frankfurt Stock Exchange: FBEN,
"Fyber"), a leading mobile advertising monetization platform
empowering global app developers to optimize profitability through
quality advertising. With its proven expertise in mediation
and real-time bidding, Fyber has amassed an extensive network with
more than 180 programmatic demand partners that reach a total of
650 million unique monthly active users across more than 180
different countries globally. The Company's proprietary
technology platform and expertise in mediation, real-time bidding,
advanced analytics tools, and video combine to deliver publishers
and advertisers a highly valuable app monetization solution.
The acquisition of Fyber is a critical component of Digital
Turbine's broader strategy to provide comprehensive media and
advertising solutions for our partners and advertisers while
enriching the mobile experience for end users through native
on-device discovery. By combining Fyber's rapidly growing
mediation, exchange and advertising solutions with Digital
Turbine's core native application and content discovery
experiences, the combined company should be ideally positioned to
be a leading end-to-end solution for mobile brand acquisition
and monetization. For a complete, detailed description of the
structure and terms of the transaction, please refer to the
Company's filings with the Securities and Exchange Commission.
"We are excited to formally welcome Fyber to the Digital Turbine
team today," said Digital Turbine CEO, Bill
Stone. "Combined with our recently completed AdColony
and Appreciate acquisitions, Fyber represents a very important
puzzle piece for Digital Turbine in its mission to develop one of
the largest full-stack, fully-independent, mobile advertising
solutions in the industry. The combined platform offering is
already generating more than $1
billion in annualized revenue and is advantageously
positioned going forward to leverage the Company's existing
on-device software presence and vast global distribution
footprint. We believe that we now have all of the critical
elements to fully establish Digital Turbine as a truly unique
next-generation ad-tech ecosystem that will enable the Company to
play a far more prominent and profitable role in the fast-growing
and secularly-thriving $200+ billion mobile advertising and
connected TV marketplace."
Mr. Stone concluded, "As evidenced by the reported 179%
year-over-year revenue growth in the March quarter, the Fyber team
has done an amazing job of building a highly differentiated,
growing and profitable standalone business. Their rapid
growth and expanding profitability, as demonstrated most recently
with their strong March quarter results, is a testament to the
quality of the Fyber team and the premium value that the company
innovatively delivers to its platform constituents. We are
certainly excited about the anticipated revenue synergies that
Fyber, AdColony and Appreciate will engender for the combined
company, our partners, and our customers. We look forward to
providing additional color and forward-looking commentary on our
upcoming earnings call."
"We are very excited to become part of the Digital Turbine
family," said Ziv Elul, CEO of Fyber. "Being part of Digital
Turbine will provide us strategic advantages and synergies in the
marketplace to build upon the much larger opportunity in front of
us."
All historical financial information for Fyber referenced above
is based on, and the combined financial information provided above
is based in part on, International Financial Reporting Standards,
is unaudited, and is subject to adjustment based on completion of
the audit of Fyber's and AdColony's financial statements, which
adjustments may be material. Investors therefore should not place
undue reliance on such unaudited financial information. Following
the closing of the acquisition, the Company intends to file the
financial statements of Fyber and AdColony and furnish pro forma
financial information as required by Securities and Exchange
Commission rules.
About Digital Turbine, Inc.
Digital 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.
Forward-Looking Statements
This news release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Statements in this news release that are not statements of
historical fact and that concern future results from operations,
financial position, economic conditions, product releases and any
other statement that may be construed as a prediction of future
performance or events, including financial projections and growth
in various products are forward-looking statements that speak only
as of the date made and which involve known and unknown risks,
uncertainties and other factors which may, should one or more of
these risks uncertainties or other factors materialize, cause
actual results to differ materially from those expressed or implied
by such statements. These factors and risks include:
- a decline in general economic conditions nationally and
internationally
- decreased market demand for our products and services
- market acceptance and brand awareness of our products
- risks associated with indebtedness
- the ability to comply with financial covenants in outstanding
indebtedness
- the ability to protect our intellectual property rights
- risks associated with adoption of our platform among existing
customers (including the impact of possible delays with major
carrier and OEM partners in the roll out for mobile phones
deploying our platform)
- actual mobile device sales and sell-through where our platform
is deployed is out of our control
- risks associated with our ability to manage the business amid
the COVID-19 pandemic
- the impact of COVID-19 on our partners, digital advertising
spend and consumer purchase behavior
- the impact of COVID-19 on our results of operations
- risks associated with new privacy laws, such as the European
Union's GDPR and similar laws which may require changes to our
development and user interface for certain functionality of our
mobile platform
- risks associated with the timing of our platform software
pushes to the embedded bases of carrier and OEM partners
- risks associated with end user take rates of carrier and OEM
software pushes which include our platform
- new customer adoption and time to revenue with new carrier and
OEM partners is subject to delays and factors out of our
control
- risks associated with fluctuations in the number of our
platform slots across US carrier partners
- required customization and technical integration which may slow
down time to revenue notwithstanding the existence of a
distribution agreement
- risks associated with delays in major mobile phone launches, or
the failure of such launches to achieve the scale
- customer adoption that either we or the market may expect
- the difficulty of extrapolating monthly demand to quarterly
demand
- the challenges, given the Company's comparatively small size,
to expand the combined Company's global reach, accelerate growth
and create a scalable, low-capex business model that drives EBITDA
(as well as adjusted EBITDA)
- ability as a smaller company to manage international
operations
- varying and often unpredictable levels of orders; the
challenges inherent in technology development necessary to maintain
the Company's competitive advantage such as adherence to release
schedules and the costs and time required for finalization and
gaining market acceptance of new products
- changes in economic conditions and market demand
- rapid and complex changes occurring in the mobile
marketplace
- pricing and other activities by competitors
- technology management risk as the Company needs to adapt to
complex specifications of different carriers and the management of
a complex technology platform given the Company's relatively
limited resources
- risks and uncertainties associated with the integration of the
acquisition of AdColony, including our ability to realize the
anticipated benefits of the acquisition and the satisfaction of
related earn-out provisions
- risks and uncertainties associated with the integration of the
acquisition of Fyber, including our ability to realize the
anticipated benefits of the acquisition and the satisfaction of
related earn-out provisions
- other risks including those described from time to time in
Digital Turbine's filings on Forms 10-K and 10-Q with the
Securities and Exchange Commission (SEC), press releases and other
communications.
You should not place undue reliance on these forward-looking
statements. The Company does not undertake to update
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Investor Relations Contacts:
Brian Bartholomew
Digital Turbine
brian.bartholomew@digitalturbine.com
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SOURCE Digital Turbine, Inc.