Business
Digital Turbine Announces Definitive Purchase Agreement to Acquire Fyber N.V.
Acquisition Delivers Key Synergistic Building Block in the Development of a Full End-to-End App Advertising Monetization Platform AUSTIN, Texas, March 22,
About this update from Digital Turbine, Inc.
[{"type":"text","content":"Acquisition Delivers Key Synergistic Building Block in the Development of a Full End-to-End App Advertising Monetization Platform\n\n\nAUSTIN, Texas, March 22, 2021 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced today that it has entered into a definitive purchase agreement to acquire approximately 95% of the shares in 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 uniquely holistic app monetization solution.\nThe acquisition of Fyber is part of Digital Turbine's expressed 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. \nSubject to certain closing conditions, the Fyber transaction is expected to close in the second quarter. Total aggregate consideration for the transaction calculated for an acquisition of 100% of the outstanding shares in Fyber is $600 million, paid as follows: (1) $150 million in cash to be paid at closing, subject to purchase price adjustments, (2) $400 million in newly issued shares of common stock of Digital Turbine to be issued at closing, and (3) an earn-out payment of $50 million, to be paid in newly issued Digital Turbine common stock and/or cash, based on Fyber achieving certain future target net revenues over the twelve-month period ending on March 31, 2022. The Company intends to pay the initial $150 million cash portion of the purchase price with a combination of available cash o...