XLMedia acquires mobile performance marketing platform
AIM-listed firm to pay $5.1m for ClicksMob as part of an all-cash deal
XLMedia has acquired mobile performance marketing platform, ClicksMob, for US$5.1m in a deal that will see the AIM-listed firm significantly expand its presence in Asia.
The cash deal will see XLMedia, via its Dau-Up mobile marketing subsidiary, acquire all the assets of ClicksMob and is expected to complete in Q1 2017.
Dau-Up will also acquire ClicksMob’s proprietary technologies, such as audience matching and engine optimisation, and enable XLMedia to target a wider range of customers in different regions.
“We are excited to announce the acquisition of ClicksMob which, combined with our own mobile marketing capabilities, provides a significant future growth engine for the Group across key verticals,” Ory Weihs, CEO of XLMedia, said.
“This acquisition represents an excellent opportunity for XLMedia to further extend our reach in Asia in addition to strengthening our presence in North America.
“As mobile marketing becomes a driving force in the online marketing world, we see this as a strategic acquisition to further strengthen our offering in this important vertical.”
According to a statement, ClicksMob generated $16.3m in revenues for the year ended 31 December 2016 and posted a profit before tax of $0.3m.
The deal comes just weeks after XLMedia announced it had acquired credit card comparison site Greedyrates.ca for $9.3m.