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Tremor International to Acquire Advertising Platform Amobee for USD 239m.

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MANews-(C)2009-2022

Israel-based video, data, and connected TV advertising specialist Tremor International Ltd. (AIM: TRMR) (NASDAQ: TRMR) has entered into a definitive agreement to acquire US-based advertising platform Amobee for a total consideration of USD 239m, subject to adjustments, the company said.

The company said it plans to satisfy the consideration through a combination of existing cash resources and a new USD 100m debt facility it expects to obtain prior to closing the Transaction.

As of June 30, 2022, the company had a net cash balance of approximately USD 360m.

Additionally, the company also expects to obtain an approximately USD 50m revolving credit facility which, along with existing surplus cash resources, is available for future strategic investments and initiatives.

The transaction is expected to close in 3Q22, subject to customary closing conditions including regulatory approval or the expiration of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Amobee is a global advertising platform that optimizes outcomes for advertisers and media companies, improves consumer experiences, and optimizes cross channel performance across linear, Connected TV, and...

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