CentralNic Group PLC Acquisition of Adrenalads (0336L)
September 01 2023 - 1:00AM
UK Regulatory
TIDMCNIC
RNS Number : 0336L
CentralNic Group PLC
01 September 2023
1 September 2023
CentralNic Group plc
("CentralNic" or "the Company" or "the Group")
Acquisition of Adrenalads
CentralNic Group PLC (AIM: CNIC), the global internet company
that derives recurring revenue from privacy-safe, AI-based customer
journeys that help online consumers make informed choices, is
delighted to announce it has acquired Adrenalads LLC ("Adrenalads")
for a consideration of USD 2.35m in cash (the "Acquisition").
About Adrenalads
Located in Los Angeles, California, Adrenalads stands as a
premium source of tier-1 search and direct navigation traffic,
catering specifically to ecommerce platforms. As at 31 December
2022, Adrenalads reported :
-- Unaudited revenue of USD 2.7m
-- Unaudited gross profit of USD 1.1m
-- Unaudited Adjusted EBITDA of USD 0.7m
The Acquisition will be immediately earnings accretive.
Integration with Zeropark
Zeropark, the Commerce Media offering of CentralNic, and
Adrenalads share a rich history of collaboration. The combination
of expertise from media-buying and supply management side will
provide improved return on investment for both companies. The
acquisition aims to seamlessly integrate Adrenalads into the
Zeropark ecosystem. This move is anticipated to:
-- Strengthen Zeropark's ties with ecommerce stakeholders;
-- Improve efficiency of internal media-buying processes;
-- Open new supply channels for Zeropark; and
-- Establish a presence in the strategic Pacific Time zone.
Michael Riedl, CEO of CentralNic, commented "Intensifying our
engagement with consumers lies at the heart of Zeropark's Commerce
Media strategy. With the inclusion of Adrenalads, we aim to amplify
Zeropark's value to our partners - advertisers, publishers, and
most importantly, to the consumers. The acquisition delivers on our
commitment to acquiring immediately accretive quality
businesses.
CentralNic's continued strong operating cash generation,
supported by high cash reserves and committed credit facilities,
continues to fund such bolt-on acquisitions, as indicated in our
capital allocation policy. The Company is fully funded to execute
its strategy to simultaneously invest in the future and return cash
to shareholders."
For further information:
CentralNic Group Plc Michael Riedl, Chief Executive Officer
William Green, Chief Financial Officer +44 (0) 203 388 0600
Zeus (NOMAD and Joint Broker)
Nick Cowles / Jamie Peel / James Edis (Investment Banking) +44 (0) 161 831 1512
Dominic King (Corporate Broking) +44 (0) 203 829 5000
-----------------------------
Berenberg (Joint Broker)
Mark Whitmore, Richard Andrews, Alix Mecklenburg-Solodkoff +44 (0)20 3207 7800
-----------------------------
SEC Newgate (for Media) +44 (0) 203 757 6880
Bob Huxford / Alice Cho / Harry Handyside / Tom Carnegie centralnic@secnewgate.co.uk
-----------------------------
About CentralNic Group plc
CentralNic (AIM: CNIC) is a leading global internet solutions
company that operates in two highly attractive markets: high-growth
digital advertising (Online Marketing segment) and domain name
management solutions (Online Presence segment). The company's
Online Marketing segment creates privacy-safe and AI-generated
online consumer journeys that convert general interest online media
users into confident high conviction consumers through advertorial
and review websites. The Online Presence segment is a critical
constituent of the global online presence and productivity tool
ecosystem, where CentralNic serves as the primary distribution
channel for a wide range of digital products. The company's
high-quality earnings come from subscription recurring revenues in
the Online Presence segment and revenue share on rolling
utility-style contracts in the Online Marketing segment.
For more information please visit: www.centralnicgroup.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQBFLLXXVLXBBE
(END) Dow Jones Newswires
September 01, 2023 02:00 ET (06:00 GMT)
Team Internet (LSE:TIG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Team Internet (LSE:TIG)
Historical Stock Chart
From Jul 2023 to Jul 2024