LONDON (ShareCast) - (ShareCast News) - Digital advertising company Marimedia has agreed a $17m cash and stock deal to acquire performance marketing technology company AreaOne.
Under the terms of the agreement, Marimedia will pay $10m in cash from existing resources, with a further $2m to be paid via the issue of 2.1m shares at 61.0p each and the remainder to be paid in cash and shares, provided that a number of performance requirements are met.

The London-listed group, which is set to change its name to Taptica, said the acquisition of AreaOne will "create a single platform which will optimise marketing campaigns across mobile and social media channels", adding it will also provide an initial platform in the Asian markets, which the group plans to develop in the future.

"This acquisition significantly accelerates our stated strategy of transitioning to a mobile offering," said group chief executive Hagai Tal.

By adding established social media marketing capabilities to our existing big data expertise based on Taptica, we are investing in the growth of the combined business and ensuring that we can keep pace with the rapidly evolving digital media market in which we operate."

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