The Israeli edtech company Tremor you purchase the Amoebae Telecom company Singtel for $239 million, a decade after Singtel bought it for $321 million. Amobi was founded by the entrepreneur Zohar Levkovitch alongside Gil Shulman and Saul Rourke. It has developed a digital platform to maximize advertising results for advertisers and media companies, and it operates in the fields of linear broadcasting, smart TV and digital media. Tremor, under the direction of Ofer Drucker, formerly called Marimedia and Taptica. It has developed a data-based trading arena for advertisers in different types of media and devices, with the aim of optimizing the trade between the advertisers-buyers and the sellers. Tremor Traded on Nasdaq and in London at a value of $746 million. According to the company’s announcement, at the end of June it had $360 million in cash, and the financing of the purchase will be carried out as a combination of some of the existing cash and new debt in the amount of $100 million, and a revolving line of credit of $50 million. The transaction is expected to close in the third quarter of this year, subject to receiving the necessary approvals.
Drucker stated that the purchase is in line with Tremor’s strategy and its past experience in successful acquisitions and integration. According to the company, the acquisition will create one of the most extensive end-to-end platforms for smart TVs, expand Tremor’s existing solutions and its global deployment, particularly in the US.
From the data published by Tremor in its announcement, it appears that in the year that ended at the end of June, Amobi recorded revenues excluding traffic acquisition expenses (ex-TAC) of $150 million and an adjusted EBITDA (earnings excluding interest, tax, depreciation and amortization) of negative $22 million. According to the report, the merged company will be able to benefit from significant cost synergies, but the amount is not specified.
According to the announcement published by the seller, Singtel, the transaction is part of its strategic intent to focus business on growing areas and its core areas, with the aim of increasing the value for shareholders.