Business
Acquisition of Adrenalads
Acquisition of Adrenalads.
About this update from Team Internet Group Plc
[{"type":"text","content":"\n\n1 September 2023\n\n\n\n\n\n\n\n\n\n \nCentralNic Group plc\n(\"CentralNic\" or \"the Company\" or \"the Group\")\n \nAcquisition of Adrenalads\n \nCentralNic Group PLC (AIM: CNIC), the global internet company that derives recurring revenue from privacy-safe, AI-based customer journeys that help online consumers make informed choices, is delighted to announce it has acquired Adrenalads LLC (\"Adrenalads\") for a consideration of USD 2.35m in cash (the \"Acquisition\").\n \nAbout Adrenalads\n \nLocated in Los Angeles, California, Adrenalads stands as a premium source of tier-1 search and direct navigation traffic, catering specifically to ecommerce platforms. As at 31 December 2022, Adrenalads reported:\n· Unaudited revenue of USD 2.7m\n· Unaudited gross profit of USD 1.1m\n· Unaudited Adjusted EBITDA of USD 0.7m\n \nThe Acquisition will be immediately earnings accretive.\n \nIntegration with Zeropark\n \nZeropark, the Commerce Media offering of CentralNic, and Adrenalads share a rich history of collaboration. The combination of expertise from media-buying and supply management side will provide improved return on investment for both companies. The acquisition aims to seamlessly integrate Adrenalads into the Zeropark ecosystem. This move is anticipated to:\n· Strengthen Zeropark's ties with ecommerce stakeholders;\n· Improve efficiency of internal media-buying processes;\n· Open new supply channels for Zeropark; and\n· Establish a presence in the strategic Pacific Time zone.\n \nMichael Riedl, CEO of CentralNic, commented \"Intensifying our engagement with consumers lies at the heart of Zeropark's Commerce Media strategy. With the inclusion of Adrenalads, we aim to amplify Zeropark's value to our partners - advertisers, publishers, and most importantly, to the consumers. The acquisition delivers on our commitment to acquiring immediately accretive quality businesses.\n \nCentralNic's continued strong operating cash generation, supported by high cash reserves and committed credit facilities, continues to fund such bolt-on acquisitions, as indicated in our capital allocation policy. The Company is fully funded to execute its strategy to simulta...