Engage:BDR acquires app advertising platform AdCel
May 4, 2018
May 4, 2018 9:40
ASX listed programmatic advertising service Engage:BDR has announced the acquisition of app advertising platform AdCel, in a move the company claims will boost the service’s ad inventory. As part of the equity and cash deal valued at $4.5 million, Engage:BDR will also raise $2 million from its investors. Engage:BDR’s management expect the acquisition of the LA headquarted firm will add $2 million to its bottom line along with increasing its client integrations from 86 to 126. ADVERTISEMENT
Ted Dhanik, Engage:BDR’s CEO, said in a media statement: “engage:BDR is extremely positive about the acquisition of AdCel. AdCel has a number of extremely positive attributes that make it an attractive acquisition. It has a business which will grow engage:BDR’s customer reach significantly, including many customers which are the crème de la crème of the industry”. “engage:BDR is very pleased that the shareholders of AdCel have agreed to accept most of the purchase consideration for the business in shares in engage:BDR Limited at a premium to the IPO price of $0.20 cents which demonstrates their confidence in the engage:BDR business and its future prospects. The shareholders of AdCel have also agreed to voluntarily escrow their shares for periods ranging from 6 to 12 months from completion of the transaction”.