London-listed online gaming marketing firm XLMedia confirmed Tuesday that Tel Aviv-based advertising platform provider TLV Media is one of several prospective targets the company has identified to expand its business. Commenting on recent press speculation regarding the potential acquisition of TLV Media for 50-100m Israeli Shekels (€11.3m to €22.7m), XLMedia said that it was in the evaluation stages of a few prospective targets, including TLV.
“Negotiations with TLV and others are in early stages, and there is no certainty that any transaction will be completed or on what terms such transactions would complete,” the company said in a statement.
TLV is a leading RTB (real-time bidding) advertising platform which develops proprietary technology for sales prediction and performance optimization in a real-time environment. Founded in 2008, it generated revenues of $19m in 2013 and EBITDA of approximately $2.8m. Partners include Netflix, Microsoft, Yahoo!, Fderated Media Publishing and Media Innovation Group among others.
“The company confirms it is actively pursuing additional acquisitions, looking to use its strong cash flow and funds raised during its IPO, in order to expand the business and expedite growth,” continued XLMedia. “Management is working continuously to explore these options, and once the board is satisfied that the right target was found and terms have been agreed, the company will announce accordingly.”
If the transaction with TLV were to complete, the board expects that the acquisition would constitute a substantial transaction under AIM Rule 12.
source : www.gamingintelligence.com
