The shares of software company Digital Turbine Inc. (APPS) have completed the last trade trading at 14.8% higher with a high of $85.76 on the 26th of February. During the previous trading session, the prices range between $72.25 and $85.76. There is a 2.25% discount between the current bid and the target price for the stock of $80.71. At present, the company has a market capitalization of $6.47 billion. Digital Turbine’s target market is expected to expand with the announcement of an advertising platform it plans to acquire.
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Advertising platform company AdColony is acquired by Digital Turbine. Depending on the results AdColony will show after the merger, the deal could be worth up to $ 375 million. Among other things, Digital Turbine will cover a portion of the purchase price.
The company, AdColony, offers mobile advertising to an audience of 1.5 billion active users worldwide. Mobile devices are becoming a significant piece of information consumption, according to AdColony. Mobile content consumption will increase more with the advent of 5G networks, and the advertising role on mobile platforms will grow.
Digital Turbine Inc. (APPS) expects to increase profits in the first year after merging regardless of the synergy size. Digital Turbine’s portfolio aligns well with AdColony’s business, which creates the platform for the mobile distribution of content referred to as Smartphone as a Service. Many advertising campaigns aim to monetize apps, develop mobile wallets and bolster social media platforms. A larger audience will be available for Digital Turbine with the addition of AdColony.
It is expected that the deal will close during the current quarter but must first be approved by shareholders in Otello, which owns AdColony.
