MDGIF - Media and Games Invest acquires start-up Dataseat

• Media and Games Invest ( OTCPK:MDGIF ) has acquired a young U.K.-based mobile demand-side platform (DSP) start-up Dataseat Ltd to further extend the technical capabilities of the company's ad-software platform.
• Dataseat was founded in 2018 by ad-tech veterans David Philippson and Dr. Paul Hayton, who previously founded Ad-X Tracking, one of the first mobile measurement partners, before selling it to Criteo ( CRTO ) in 2013.
• Both founders have agreed to join the MDGIF team and provide their valuable expertise to assist Dataseat to reach its full potential.
• The addition strengthens MDGIF's demand-side and further accelerates the MDGIF flywheel as more advertisers lead to more publishers on the company's software platform.
• The deal adds innovative AI-driven non-identifier platform capabilities for mobile gaming and non-gaming companies.
• The small but accretive acquisition results in immediate synergies for MDGIF's advertising partners, including its gaming studios.
• The acquisition will directly increase the number of advertisers from the games sector.
• The attractive deals purchase price consists of (i) a fixed component in the high single-digit GBP million range, (ii) a conditional deferred purchase price linked to the retention of the founders, as well as (iii) a long-term performance-based earn-out component.
• The fixed upfront component will be paid in cash, while the deferred as well as the earn-out components will be paid in either cash or shares.
• The cash deferred payment will occur in 18 months following closing, and the deferred and earn-out components payments will occur in 36 months.
• The parties have agreed not to disclose further details of the purchase price.
• Dataseat is being acquired by Verve Holding GmbH, a 100% subsidiary of MDGIF.

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