Matomy Media Group Ltd Matomy Announces Sale of Its Non-Core Businesses (2543K)
July 06 2017 - 1:00AM
UK Regulatory
TIDMMTMY
RNS Number : 2543K
Matomy Media Group Ltd
06 July 2017
Matomy Announces Sale of Its Non-Core Businesses
Following the strategic focus announcement that Matomy Media
Group Ltd. ("Matomy") (LSE: MTMY;TASE: MTMY.TA) published on 8 May
2017, Matomy is pleased to announce that we have entered into an
agreement for the sale of our non-core businesses to Creative
Clicks Media Group B.V. for a maximum of $11 million in cash and
earn-out payments based on business performance. In line with
Matomy's strategic focus, this transaction completes our planned
exit from a broad range of activities that are no longer core to
our long-term strategy, reflecting our new focus on programmatic
mobile, video advertising and domain monetization.
Commenting on the transaction, Sagi Niri, CEO of Matomy said:
"This sale represents an additional milestone in the execution of
our new strategic focus. We are thrilled to have found a warm home
for these team members, and wish Creative Clicks every success with
the development of these activities."
Raymond Kokken, CEO of Creative Clicks, said: "We have been very
impressed by the activities and the team. They will be an excellent
addition to our business offering and we are confident they will
deliver excellent value for our publishers, advertisers and
shareholders."
About Matomy:
Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) Matomy is a
global media company with a portfolio of superior data-driven
platforms for mobile, video, domain and email advertising. By
providing customized performance and programmatic solutions
supported by internal media capabilities, big data analytics, and
optimization technology, Matomy empowers advertising and media
partners to meet their evolving growth-driven goals. Matomy's
programmatic platforms include Mobfox for mobile, Optimatic for
video, and the mobile, self-serve demand-side platform myDSP.
Founded in 2007 with headquarters in Tel Aviv and 11 offices around
the world, Matomy is dual-listed on the London and Tel Aviv Stock
Exchanges. Learn more about Matomy at http://www.matomy.com.
Media Contact:
Justine Rosin
justine@headline-media.com
UK: +44 203-769-5656 | USA: +1 917-724-2176
This information is provided by RNS
The company news service from the London Stock Exchange
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