Algomizer to Acquire Linkury for $ 11M
Linkury's revenues totaled $ 20M in 2016, and its net profit amounted to $ 3.5M
Algomizer's CEO: the acquisition will accelerate Algomizer's growth and drive increased sales in 2017, compared to last year's $ 20M
NEW YORK, July 19, 2017 /PRNewswire/ -- Algomizer, a public company traded on the Tel Aviv Stock Exchange (TASE: ALMO) and specializing in the online marketing field, signed an agreement and completed the acquisition of Linkury Ltd., provider of software monetization solutions, and its subsidiaries. Algomizer completed the acquisition for $ 11M plus options, to hold Linkury's entire capital stock.
To finance the transaction, Algomizer signed investment agreements of approximately $ 11M with leading investors, including the Yedioth Internet Group (which has invested in Algomizer before), institutional bodies, a Canadian fund and private Israeli and American investors.
Linkury operates in the online advertising industry, through a group of companies which have developed online software in various fields, including video (NROLL), automated, programmatic RTB (Real-Time Bidding) systems, virtual reality, safe web surfing for children, automated bots and e-commerce on Facebook.
In 2016, Linkury's revenues totaled $ 20M and its net profit $ 3.5M, and it expects a substantial revenues growth in 2017.
Linkury's area of business is synergetic to Algomizer's. In Linkury, Algomizer sees an immediate and future growth engine which will allow it to expand its offering to customers, through both organic growth and further such mergers.
Linkury's CEO and founder, Netanel Namdar, will retain his position. He voted his confidence in Algomizer and its future success by choosing to receive a substantial part of the proceeds from selling his shares in Linkury in Algomizer shares, thereby becoming an Algomizer shareholder.
Noam Band, CEO of Algomizer, said: "We are proud of the Linkury acquisition and we believe it will yield fruit in the very near future. At Linkury, we found an amazing team who succeeded in rapidly converting a company, which operated in the extinct toolbar area, into an advanced company with sustainable products and a strong grip in areas such as RTB, video, Facebook bots and security. The company maintains high profitability and an annual growth of millions, amazingly without having raised any funds from external investors since its establishment. On top of our solutions for Google, Facebook, Twitter and others, we will be able to offer the market and our customers these solutions, and we expect the acquisition to significantly accelerate Algomizer's growth and increase its sales".
Band added, "We thank the first-class investors who were reached through the Shrem-Zilberman Group's excellent work, for their vote of confidence in Algomizer's strategy and their investment of $ 11M, which enabled the acquisition".
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SOURCE Algomizer
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