Amsterdam, 23 March 2022 – Azerion, the digital entertainment and media platform, today announces the proposed acquisition of Infinia, a digital marketing company based in Spain with an attractive footprint in Latin America. This acquisition, the first since Azerion was listed on Euronext Amsterdam in February, furthers Azerion’s ambitions to expand its reach in fast-growing digital advertising markets.
Infinia purchases inventory from digital publishers and sells it to agencies and advertisers, using proprietary data segmentation and profiling capabilities. Their arrival into Azerion’s expanding network of direct advertisers and media agencies will bolster the platform’s media buying capabilities, strengthen Azerion’s sales capability and volumes in Spain, extend its presence in Latin America, particularly Mexico, and enables the further utilisation of Azerion’s advertising technology, generating synergies with Azerion’s expanding end-to-end suite of digital marketing technologies. For the full year 2021, Infinia delivered revenue in the low double-digit euro millions.
The transaction structure and implied multiples of revenue paid for the acquisition are in line with the M&A transactions that Azerion completed during 2021. The acquisition will be financed predominantly in cash, with a small equity component consisting of 112,359 Azerion treasury shares being transferred to the Infinia selling shareholders on completion and subject to certain lock-up arrangements.
Azerion and Infinia signed a binding acquisition agreement subject to certain conditions on 22 March 2022, with the acquisition expected to complete in early April 2022.
Joost Merks, CIO at Azerion, said: “We are pleased to welcome Infinia as part of our platform. We will seek to capitalise on Infinia’s established presence in Spain and Latin America to expand our network in these dynamic markets. Infinia’s advanced targeting and data activation technology, along with their AI capabilities in campaign performance measurement will also be strong assets to help deliver highly-targeted media campaigns to our clients.”
Fausto Fernandez, CEO and Founder at Infinia further comments: “Over the past few years, we have witnessed a strong shift in consumer behaviour into digital mobile marketing. At Infinia, we have developed sophisticated AI data-driven marketing and research tools to capture the opportunities offered by this new segment. By joining Azerion, we know we will be operating in a like-minded innovation-driven platform, where we will continue developing our technology and provide our customers with highly targeted media campaigns in Europe and beyond”.
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