Digital Turbine, Inc. (NASDAQ: APPS) revealed that it has decided to purchase AdColony, the in-app marketplace for the brands. For the purpose of acquiring AdColony, the firm has signed a deal with Otello Corp. OTELLO is the owner of AdColony. The total amount the firm will pay for AdColony is $400 million.
AdColony has experienced a huge improvement over the last three years. In 2020, the biggest mobile advertising platform has reported a growth of 15% YOY as compared to 2019. The firm has also recorded a strong EBITDA margin in the previous year. This news of the AdColony came ahead of the tenth anniversary of the platform as a firm.
On March 3rd, 2011, the mobile game developer-turned-ad-network has publicly become AdColony from Jirbo, Inc. Over the past ten years, the firm has never stopped bring sophisticated technology through its platform. It has completely revolutionized the mobile monetization and user acquisition industry instantly with its InstantPlay™ video technology,
Furthermore, the acquisition of AdColony will generate a more advanced solution for the mobile advertising industry. The mobile video advertising expertise and global brand advertiser awareness when integrated with the Digital Turbine capabilities, will surely bring something unique for the customers. The strategic justification for this purchase is very encouraging.
CRO of AdColony commented: “APPS provides many matching and attractive solutions to performance business of AdColony, while we bring an industry-prominent SDK trajectory and a strong and prosperous brand and organization team to the collaboration.”