Digital Turbine, Inc. (Nasdaq: APPS) announced that it has completed its acquisition of AdColony Holding AS (“AdColony”). The acquisition of AdColony, a mobile advertising platform servicing advertisers and publishers with a reach of more than 1.5 billion monthly global users, is integral to Digital Turbine’s expressed strategy to provide a comprehensive media and advertising solution for its operator and OEM partners while enriching the mobile experience for end-users by delivering highly relevant content. AdColony’s proprietary video technologies and rich media formats are widely viewed as best-in-class technology providing industry-leading third-party verified viewability rates for well-known global brands, such as Coca-Cola, Amazon, and BMW.
“We are excited to have formally closed the acquisition of AdColony,” said Bill Stone, CEO of Digital Turbine. “We believe that this strategic transaction, along with the previously completed acquisition of Appreciate and pending completion of the Fyber acquisition, will synergistically accelerate our growth and is a real positive for our partners, advertisers, employees, and shareholders. With the addition of AdColony, we will expand our collective experience, reach, and a suite of capabilities to benefit mobile advertisers and publishers around the globe. Performance-based spending trends by large established brand advertisers present material upside opportunities for platforms with unique technology deployable across exclusive access to inventory.”
“Digital Turbine’s assets and scale complemented with AdColony’s SDK footprint and mature and thriving brand and agency team’s, combine to form a powerful platform that will drive growth and outcomes for any buyer that participates in the mobile app economy,” said Warrick Billingham, AdColony’s general manager, brand EMEA & LATAM.
AdColony has had a very successful turnaround over the last three years, crowned with 15 per cent year-over-year growth in 2020 versus 2019 with solid EBITDA margins. Digital Turbine also announced AdColony’s unaudited financial results for its first quarter ended March 31, 2021. Revenue for AdColony for the first quarter is estimated to be approximately $58.3 million, representing a growth of 37 per cent compared to revenue in the first quarter of 2020.
