XLMedia PLC Update on acquisition (7644X)
02 Setembro 2015 - 3:00AM
UK Regulatory
TIDMXLM
RNS Number : 7644X
XLMedia PLC
02 September 2015
For immediate release 2 September 2015
XLMedia PLC
("XLMedia" or "the Group" or "the Company")
Update on acquisition
Integration of ExciteAd Digital Marketing Ltd ("EDM")
accelerated
XLMedia (AIM: XLM), a leading provider of digital performance
marketing services, is pleased to provide an update on its progress
to integrate the acquired businesses and assets of EDM.
The Company is pleased to report EDM has achieved strong
performance in the first year following acquisition. In accordance
with the share purchase agreement, and based on the performance
achieved, the Company has paid the first instalment of contingent
consideration of $3.5 million.
Management sees high value in the integration of all acquired
businesses, and specifically the use of a unified technological
infrastructure, and believes such integration will help to further
improve performance and increase scale.
Given the high earnings visibility of EDM, the Company has
decided to waive the performance condition related to the second
and final contingent payment of $3.5 million in order to accelerate
the continued integration of EDM into the Group. All other terms of
the purchase agreement remain in force.
Ory Weihs, Chief Executive Officer of XLMedia, commented:
"We are very pleased with the strong performance of EDM, and
look forward to the additional benefits of scale we will see
through the acceleration of its integration. We continue to
evaluate a number of prospective acquisition targets in order to
add new technologies and skills that will complement our existing
suite of user engagement and advertising tools. "
For further information, contact:
XLMedia plc Ory Weihs www.xlmedia.com Tel: 020 8817 5283
Vigo Communications Jeremy Garcia Tel: 020 7016 9570
/ Fiona Henson www.vigocomms.com
Cenkos Securities plc (Nomad Tel: 020 7397 8900
and Joint Broker) Ivonne Cantu
/ Callum Davidson www.cenkos.com
Liberum (Joint Broker) Neil Tel: 020 3100 2000
Patel / Chris Clarke www.liberum.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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