Brief: Azerion Acquires Radionomy And Enters Audio Advertising Market

Azerion NV

22/11/2022 07:13

Nov 22 (Reuters) - Azerion Group NV  AZRN.AS :
    * AZERION ACQUIRES RADIONOMY AND ENTERS AUDIO ADVERTISING
MARKET
    * WITH THIS ACQUISITION, AZERION LAUNCHES A NEW PRODUCT IN
REALM
OF AUDIO ADVERTISING, ENABLING CLIENTS AND PARTNERS TO EXPAND
THEIR ENGAGEMENT WITH USERS
    * ACQUISITION WILL ENHANCE AZERION'S ABILITY TO SUPPORT
ADVERTISERS AND PUBLISHERS WITH A COMPLETE SUITE OF ADVERTISING
PRODUCTS AND FURTHER SOLIDIFIES OUR ENTRY INTO US MARKET
    * CLOSING IS EXPECTED BEFORE 31 DECEMBER 2022
    * TOTAL CONSIDERATION WILL BE PREDOMINANTLY SETTLED THROUGH
AZERION SHARES, WITH BALANCE SETTLED IN CASH
    * 2,782,644 AZERION SHARES WILL BE TRANSFERRED TO SELLING
SHAREHOLDERS AT CLOSING OF TRANSACTION
    * SUCH AZERION SHARES EQUIVALENT TO UP TO EUR 3 MILLION ARE
TO BE
GRANTED IN FUTURE, SUBJECT TO CERTAIN EARN-OUT CONDITIONS
    * BALANCE THAT IS PAYABLE IN CASH CONTAINS A PAYMENT AT
CLOSING AS
WELL AS DEFERRED PAYMENTS
    * RADIONOMY IS EXPECTED TO GENERATE APPROXIMATELY EUR 29
MILLION
TO EUR 30 MILLION GROSS REVENUE IN 2022
    * TRANSACTION THUS INVOLVES INDIRECT DISPOSAL OF ALL
SUBSIDIARIES
OF RADIONOMY GROUP B.V., TARGETSPOT AND SHOUTCAST BRANDS AND ALL
STAFF ATTACHED TO BUSINESS

Source text for Eikon:  ID:nGNE7Rc55N 
Further company coverage:  AZRN.AS 
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