XLMedia mulls potential sale or acquisition in strategic review
Egaming performance marketing firm appoints Canaccord Genuity to review strategic options for boosting shareholder value
XLMedia has launched a strategic review of the business as the performance marketing firm considers a potential sale or acquisition in an effort to boost shareholder value.
The AIM-listed egaming marketing firm today announced it had appointed financial services company Canaccord Genuity to conduct the review and will consider all strategic options available to the company.
Independent specialist securities firm Cenkos Securities has also been named as an additional financial adviser.
XLMedia is now considered to be in an âOffer Periodâ as defined in the Takeover Code as it considers either acquiring complementary businesses, sale of the business or merger with an additional company.
Todayâs news comes off the back of consistent revenue growth for XLMedia in recent years which has led to the London-based firm paying $21.3m in dividends to shareholders.
The company completed a number of acquisitions last year including its purchase last June of a majority stake in web and mobile marketing company Marmar Media in a deal worth up to $7.36m (£4.72m).
The following month XLMedia also bought a series of UK-facing mobile websites, while in September it acquired social and mobile gaming marketing firm ExciteAd Digital Marketing (EDM) for $19m.