NEW YORK,?Jan. 23, 2020?/PRNewswire/ ?Media and Games Invest plc (MGI, ISIN: MT000000580101; Symbol: M8G) today announced that its subsidiary gamigo AG agreed on acquiring Verve Wireless, Inc.s business. Verve is a leading North American mobile data platform for location-based programmatic video and display marketing. Verve brings technology, intellectual property, and domain expertise in branded programmatic [&]
NEW YORK,?Jan. 23, 2020?/PRNewswire/ ?Media and Games Invest plc (MGI, ISIN: MT000000580101; Symbol: M8G) today announced that its subsidiary gamigo AG agreed on acquiring Verve Wireless, Inc.s business. Verve is a leading North American mobile data platform for location-based programmatic video and display marketing. Verve brings technology, intellectual property, and domain expertise in branded programmatic advertising and location-based analytics and data management. MGI Group welcomes Verves team, its customers and partners and plans to support further expansion of the business globally utilizing synergies within its portfolio of companies.
Verve was founded in 2005 with offices in?New York?and?San Diego. The acquisition is expected to generate additional net revenues in the lower double-digit million range in the current fiscal year for MGI Group. Depending on the speed of finalizing and integrating the transaction within the coming weeks, management expects an additional EBITDA in the low single-digit million range.
The acquisition of Verves business assets expands the MGI Groups product portfolio, customer base and sales organization and strengthens its position in the North American market, furthermore there are great synergies by teaming with MGIs media and gaming companies.
MGI believes in the combination of M&A and organic growth in the gaming and media sectors having acquired over 30 companies and assets in the last 6 years, with a substantial part of its business in the US. By integrating and focusing on synergies, MGI is building leading platforms in the gaming as well as in the media and advertising segments while leveraging the strong connections between these segments.
The acquisition of Verve strengthens MGIs position in Media and Advertising and will boost the marketing of the game companies. While the MGI group already offers online performance marketing (Adspree), an influencer marketing agency (Mediakraft), a influencer SaaS platform (ReachHero), a supply side performance platform (Pubnative), and a global app performance agency (Applift), the MGI Group is now extended by Verves programmatic mobile brand marketplace, as well as its data management and location-based platform.
Verves customers will benefit from a significant increase in inventory reach and a wider range of advertising services. On the other hand, the other MGI companies will profit from Verves true performance solution that leverages the power of first-party mobile data in the context of location, including strong and unique ad products such as Tap-to-Map, which enables retailers to drive store visits and pedestrian traffic.
With the acquisition of Verve, we are expanding the position of the MGI Group in the media and advertising sector. Combined, the Group has a powerful global offering with over 600 million monthly active direct users, innovative proprietary technology, over 18 registered patents, a global sales team with offices and employees in over 20 countries worldwide and a strong customer base, including many blue-chip companies. This powerhouse in the media sector will also further strengthen the gaming sector, especially in the area of user acquisition for our portfolio games as well as for our new game launches, said?Remco Westermann, CEO of MGI.
Since day one, we have always believed in the power of the mobile internet and mobile apps and never doubted the multi-billion dollar opportunity it would deliver, particularly when anchored to first party mobile and location data, says?Tom Kenney, co-founder and CEO at Verve. Were excited to join the MGI family and partner with the MGIs portfolio to expand globally to help our clients achieve their mobile marketing objectives. I am proud of our team and thank them for their loyal and amazing efforts over these last 15 years.
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