Tremor International Enters into an Agreement to Acquire Amobee, Significantly Increasing its Global Market Share

Tremor International Ltd, a global leader in Video, Data, and Connected TV (“CTV”) advertising offering an end-to-end technology platform that enables advertisers to optimize their campaigns and media partners to maximize yield on their digital advertising inventory, today announces that it has entered into a definitive agreement to acquire Amobee for a total consideration of $239 million, subject to adjustments (the “Transaction”). The Company intends to satisfy the consideration through a combination of existing cash resources and a new $100 million debt facility it expects to obtain prior to closing the Transaction. As of June 30, 2022, the Company had a net cash balance of approximately $360 million. Additionally, the Company also expects to obtain an approximately $50 million revolving credit facility which, along with existing surplus cash resources, is available for future strategic investments and initiatives. The Transaction is expected to close in the third quarter of 2022, subject to customary closing conditions including regulatory approval or the expiration of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”).

Amobee is a leading global advertising platform that optimizes outcomes for advertisers and media companies, improves consumer experiences, and optimizes cross channel performance across linear, Connected TV, and digital media, while driving customer growth through detailed analytics and reporting. Amobee serves over 500 customers globally and operates across three core business segments: Omnichannel Demand Side Platform (“DSP”), Amobee Advanced TV Platform, and Email Marketing Platform. Through the Transaction, Tremor will acquire Amobee’s Omnichannel Demand Side Platform and Advanced TV Platform but will not acquire its Email Marketing Platform and related current and historical liabilities, which is expected to remain with the Seller, Amobee Group Pte. Ltd.

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“The acquisition of Amobee is expected to build upon Tremor International’s growth strategy and proven track record of successfully integrating companies that enhance and expand the capabilities and scale of its data-driven end-to-end technology and business platform, focused on CTV and video,” said Ofer Druker, Tremor International’s Chief Executive Officer. “Amobee would add several capabilities including campaign execution across linear and digital channels within a single platform. Additionally, the Transaction would fulfill our strategy to add significant global scale and self-service growth to our demand side platform, increase our US and international customer reach and data footprint, and drive more advertiser spend to our SSP, Unruly. We’ve recently achieved a number of important milestones that we believe will further scale and differentiate our platform including the agreement to acquire Amobee and deepening our strategic relationship with VIDAA through a $25 million investment, which combined is expected to generate long-term value for our shareholders.”