SingTel subsidiary, Amobee, spends $US385m on marketing tech acquisitions

Advertising platform buys Adconion and Kontera

Digital advertising platform and Singapore Telecommunications (SingTel) subsidiary, Amobee Group, will acquire 100 per cent of both Adconion and Kontera Technologies for $US235 million and $US150m, respectively.

Both sums will be paid in cash.

Adconion is a digital advertising group which focuses on display, video, mobile, email and social marketing through a unified platform. The company operates predominately in North America and Australia.

Its two units, Adconion Media Incorporated and Adconion Proprietary Limited are incorporated under the laws of Delaware, USA, and NSW, Australia, respectively. The aggregate consideration is about $US209m excluding debt, and is subject to working capital adjustments.

SingTel’s statement to the ASX states the agreement will provide for up to $US20m in earn-out and retention benefits for key employees of Adconion subject to the achievement of key performance indicators.

Read more: TechnologyOne automates Moreton Bay Regional Council’s field work

Kontera is a digital content and marketing technology vendor which operates in the US, UK, and Isreal. Its analysis platform analyses data across mobile, Web, and social networks.

The earn-out and retention benefits for key employees under this agreement amount to $US5.8m.

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Tags marketingproductacquisitionTelcotelecommobileemailAmobeesocial networkmobilitywebplatformASXSingapore TelecommunicationsKonteraAdconionoptussingtelTelecommunicationsadvertising

More about Australian Security ExchangeSingapore Telecommunications

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