Matomy Media Group, a supply-side platform (SSP), on Tuesday announced it has acquired MobFox, a European mobile programmatic ad platform. Per a release, the total consideration price of the deal is $17.6 million.
The news comes just weeks after Publicis Groupe bought a 20% stake in Matomy for $65 million.
Matomy will pay $10.1 million in cash for MobFox, with the remaining $7.5 million being paid out via shares. Matomy trades on the London Stock Exchange (LSE) as MTMY. Per a release, “MobFox’s shareholders may be entitled to an additional payment, commencing 24 months following the closing of the asset purchase transaction.” The potential additional payment will be based on MobFox’s 2015-2017 financial performance.
MobFox’s revenue run rate is in the $15 million - $17 million range, per a release. Matomy anticipates mobile -- including MobFox’s contribution -- to account for 20% of its global revenue in 2014, up from 7% in 2013. The company intends for mobile to account for 50% of its global revenue within five years.
“The impressive growth of programmatic and mobile advertising has made it clear that both will form an important part of the future of digital advertising,” stated Ofer Druker, CEO of Matomy. “MobFox has built an excellent mobile programmatic advertising solution, and its business fits perfectly into our vision, complementing our performance-based advertising capabilities.”
Matomy, which is headquartered in Israel, will make MobFox’s London office its new UK branch office. Matomy also has regional headquarters in Germany, Spain, Mexico and the U.S.