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Market Overview

Digital Turbine Acquires Mobile Advertising Platform AdColony For $400M

  • Mobile technology company Digital Turbine, Inc. (NASDAQ: APPS) inked an agreement to acquire AdColony from Otello for an estimated consideration of $400 million. 
  • The $400 million price tag includes $100 million in cash to be paid at closing, $100 million in cash to be paid six months following the closing, and earn-out of $200 million, to be paid fully in cash, based on AdColony achieving certain future target net revenue objectives in 2021.
  • The earn-out portion is not capped and is subject to change based on actual results. 
  • "The ability for Digital Turbine to utilize AdColony's unique mobile advertising solutions across our vast device distribution footprint unlocks significant new monetization opportunities for the combined company's platform offerings. Performance-based spending trends by large, established brand advertisers present material upside opportunities for platforms with unique technology deployable across exclusive access to inventory," said Digital Turbine CEO Bill Stone.
  • Price action: APPS shares fell 8.39% at $72.38 on Thursday.

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