Media & Games Invest group have announced a deal for German based digital advertising platform Smaato to join Verve group in a deal worth EUR 140 million. The deal to be paid in cash to Smaato parent company Shanghai Yi Qiu Business Management Co., Ltd. sees the supply side platform join Verve Group. According to an explanatory note in the press release announcing the deal,  "The acquisition of Smaato increases the critical mass of MGI's media segment Verve Group substantially by adding further advertisers (demand) and publishers (supply) to its platform. Smaato and Verve Group are highly synergetic, which is expected to lead to cost and efficiency synergies as well as substantial synergies on the revenue side."

Remco Westermann, CEO of Verve Group said of the deal, "The envisaged cost and revenue synergies between Smaato and Verve Group, as well as technical innovations and further invest in growth are to ensure the continuance of further strong growth of our media segment. This acquisition is also adding critical mass to our platform by adding a substantial number of strong publishers. It is a transformative transaction for MGI’s Verve Group with targeted stable and long-term EBITDA contributions.”

By Gamesforum Staff