- Tremor International ( NASDAQ: TRMR ) stock dips after missing consensus mark in Q2.
- Amobee generated preliminary unaudited Contribution ex-TAC of approximately $150M, excluding the results from its Email Marketing Platform which is not part of proposed acquisition.
- Management initially expects to achieve meaningful annual run-rate operating cost synergies of approximately $50M on a combined pro forma basis post-closing and following completion of the integration.
- Expects to obtain new $150M debt facilities comprised of a secured term loan and a revolving credit facility to partially fund the acquisition and support future strategic investments and initiatives
- Transaction is expected to close in Q3 2022
- The company is expected to enhance platform scale and differentiation and expand strategic capabilities and global market share through pending $239M acquisition of Amobee, proposed $25M investment in VIDAA, and completed integration of Spearad.
- Tremor Video added 60 new logos during Q2 2022, and 135 new logos during H1 2022, across travel, CPG, and retail growth verticals.
- FY2022 Outlook: Contribution ex-TAC of approximately $290M; Adjusted EBITDA of approximately $155M.
- FY2023 Outlook : Contribution ex-TAC of approximately $500M; Adjusted EBITDA of approximately $200M.
- Stock down 22% .
For further details see:
Tremor International stock sinks after Q2 miss