Jefferies starts ads, gaming 'one-stop-shop' Azerion with 'buy'

Azerion NV

15/03/2022 09:00

** Jefferies initiates its coverage of Azerion  AZRN.AS 
with "buy", hailing the newly listed Dutch group's growth
prospects as a "one-stop-shop" for both advertisers and game
makers
    ** Azerion, founded in 2014 and headquartered in Amsterdam,
makes software that automates the purchase and sale of digital
advertising, and also makes online games and content
    ** The brokerage praises the "strong logic" of linking two
growing markets; with advertisers set to benefit from games'
high engagement and game makers to monetise and win new users
through advertising
    ** Azerion has seen organic revenue growth of over 20%
annually, says broker, and should see its margins reach 20% by
2024
    ** Azerion currently reaches over 425 mln users monthly,
says Jefferies, noting that digital ads are growing 16% and
mobile gaming 10% per year
    ** It adds that the company covers less than 2% of gaming's
$15 bln total addressable market, behind Israel's Ironsource
 IS.N  and California-based Applovin  APP.O  at around 3% each
    ** Azerion listed in Amsterdam on Feb. 2 after it was
acquired by EFIC1  EFIC1.AS , a SPAC run by former Commerzbank
CEO Martin Blessing  urn:newsml:reuters.com:*:nL1N2UD0VE

 (Reporting by Sarah Morland)
 ((sarah.morland@tr.com
mailto:sarah.morland@thomsonreuters.com))