AUSTIN, Texas, March 2, 2021 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced today that it has acquired all of the capital stock of Triapodi Ltd. (d/b/a Appreciate), a programmatic mobile advertising DSP company headquartered in Israel. Appreciate's platform collaborates closely with mobile measurement partners ("MMP"s), exchanges, advertisers and other partners to programmatically provide a transparent ecosystem designed to optimize user-acquisition and ROI for the mobile marketers utilizing its platform. Appreciate currently runs approximately 60 billion daily auctions on its platform.
The acquisition of Appreciate is fully consistent with Digital Turbine's expressed strategy to provide a comprehensive media and advertising solution for our operator and OEM partners while enriching the mobile experience for end users by delivering highly relevant content to their fingertips.
Total consideration paid for the Appreciate acquisition was $22.5 million in cash. Digital Turbine also agreed to provide $6.0 million in performance and retention bonuses to the founders and certain other employees of Appreciate.
"We are thrilled to announce the acquisition of Appreciate and welcome their technology talent to the Digital Turbine team," said Bill Stone, CEO of Digital Turbine. "Digital Turbine has already been actively working with Appreciate and has attained highly successful results, particularly with respect to the scaling of our Single-Tap functionality. The acquisition of Appreciate delivers valuable deep ad-tech and algorithmic expertise to help Digital Turbine execute on its broader, longer-term vision. Adding Appreciate would also be highly synergistic with the business of AdColony, with respect to which we recently entered into a definitive purchase agreement. Appreciate and AdColony already work together, and there are numerous revenue synergies between the companies to further leverage each other's strengths.
"We are excited to be part of the Digital Turbine team," said Amir Maor, CEO and Co-Founder of Appreciate. "Deploying our technology expertise across Digital Turbine's global scale and reach will further benefit partners and advertisers that are a part of the combined company's platform. Our initial results with Digital Turbine's unique Single-Tap capabilities have been highly encouraging, and we eagerly look forward to ramping those efforts to even greater scale."
About Digital Turbine, Inc.
Digital Turbine simplifies content discovery and delivers relevant content directly to consumer devices. The Company's on-demand media platform powers frictionless app and content discovery, user acquisition and engagement, operational efficiency and monetization opportunities. Digital Turbine's technology platform has been adopted by more than 40 mobile operators and OEMs worldwide, and has delivered more than three billion app preloads for tens of thousands of advertising campaigns. The Company is headquartered in Austin, Texas, with global offices in Arlington, Durham, Mumbai, San Francisco, Singapore and Tel Aviv. For additional information visit www.digitalturbine.com.
This news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this news release that are not statements of historical fact and that concern future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events, including financial projections and growth in various products are forward-looking statements that speak only as of the date made and which involve known and unknown risks, uncertainties and other factors which may, should one or more of these risks uncertainties or other factors materialize, cause actual results to differ materially from those expressed or implied by such statements. These factors and risks include:
You should not place undue reliance on these forward-looking statements. The Company does not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Digital Turbine, Inc.
Released March 2, 2021