DGAP-News: Fyber N.V.
/ Key word(s): Acquisition/Miscellaneous
Fyber joining the Digital Turbine group forms the largest independent growth platform for mobile app developers to expand their business. Both are leaders in their respective markets and expect to top the individual growth trajectories with synergies and strategic advantages across all group companies. By acquiring Fyber, Digital Turbine doubled down on its vertical integration strategy, underlining the company's strategy to provide comprehensive media and advertising solutions for its carrier and OEM ('Original Equipment Manufacturers') partners while enriching the mobile experience for end users through native on-device discovery. Fyber's clients are set to benefit from Digital Turbine's strategic relationships with mobile carriers and OEMs that power its vast scale of more than half a billion mobile devices containing their proprietary technology for app and content discovery.
Digital Turbine agreed on the acquisition of Tennor's complete shareholding in Fyber at a valuation of up to $600 million net for 100% of Fyber's shares, with the intention of acquiring 100% of shareholding in Fyber.
Ziv Elul, CEO of Fyber, comments: "Lately, Fyber delivered the strongest yearly results with 2020 and the strongest quarter with Q4 2020 in the history of the company. Fyber monthly adjusted EBITDA has been positive since July last year and the strong revenue growth led to the increased guidance for the full year 2021 of an expected revenue between €300 million and €350 million - a plus of at least 43% compared to 2020 - at an adjusted EBITDA between €15 million and €20 million.
"The acquisition of Fyber completes Digital Turbine's strategy of bringing the largest, comprehensive and fast growing platform for mobile carriers and app developers to the market. Following our recent transactions acquiring AdColony and Appreciate, we are now in a position to bring together our unique client and best-in-class technology sets to form a comprehensive media and advertising solution that benefits all our partners.", says Bill Stone, CEO of Digital Turbine.
26.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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|EQS News ID:||1200562|
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