- Tremor International ( NASDAQ: TRMR ) said Monday it will acquire advertising platform Amobee for $239M to expand its global market share.
- The purchase price will be funded through a combination of existing cash resources and a new $100M debt facility TRMR expects to obtain prior to closing the deal.
- As of Jun. 30, TRMR had a net cash balance of ~$360M.
- TRMR also expects to obtain an ~$50M revolving credit facility which can be used for future strategic investments.
- TRMR will acquire Amobee's Omnichannel demand side platform and advanced TV platform. It will not acquire its email marketing platform and related current and historical liabilities, which are expected to remain with Amobee.
- The deal is expected to result in accretive financial growth within first 12 months of completion, largely across TRMR's DSP business.
- The combined firm seeks to benefit from meaningful annual run-rate operating cost synergies.
- "Amobee would add several capabilities including campaign execution across linear and digital channels within a single platform," said TRMR CEO Ofer Druker.
- The deal is expected to close during Q3.
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Tremor International to acquire Amobee for $239M to expand global market share