Amobee Buys Adconion, Kontera for $385 Million
Digital and mobile marketing shop Amobee today announced that it has agreed to acquire Adconion Direct North America and Adconion Australia (together, Adconion) as well as Kontera Technologies, Inc. (Kontera), in a deal valued at $385 million.
In a statement Amobee said the purchase will strengthen its position as a provider of mobile-led digital marketing technology and solutions.
Adconion will be acquired at a valuation of $235 million. The consideration payable is approximately $209 million, excluding debt. The valuation and consideration payable for Kontera is approximately $150 million.
The acquisitions are subject to certain conditions being satisfied and approvals obtained. Amobee is a wholly owned subsidiary of Singapore Telecommunications Limited (SingTel).
Allen Lew, CEO of Group Digital L!fe and Chairman of Amobee, said in a statement that the acquisitions will further differentiate Amobee and help solidify its position in the digital advertising market.