Digital Turbine, an on-device mobile platform Coinbase User List company, has acquired in-app marketplace provider AdColony from Otello Corporation for an estimated $400 million, according to an announcement. The deal is subject to approval from Otello shareholders and is expected to close in the company’s fiscal fourth quarter in March. Ad Colony reaches Coinbase User List more than 1.5 billion monthly users globally, per the release, with a focus on categories like gaming. The company has been in the midst of a turnaround plan over the last three years that delivered 15% year-over-year growth in 2020 and “very solid EBITDA margins.
The news is the latest in a series Coinbase User List of ad-tech acquisitions that show companies are moving quickly to snap up ad-tech providers keyed into channels receiving a boost from the pandemic, such as gaming and streaming. Dive Insight: With Coinbase User List the acquisition, Digital Turbine looks to combine its global distribution capabilities with Ad Colony’s mobile video advertising expertise and client roster, which includes brands like Disney, BMW and Amazon. Austin-based Digital Turbine works with mobile operators and manufacturers on areas like content delivery, user acquisition and operational efficiencies.
The goal of the deal is to create a “highly-differentiated and more vertically-integrated solution for the mobile advertising industry,” Otello CEO Coinbase User List Lars Boilesen said in a press statement. Ad Colony is among the ad-tech firms feeling a windfall as the coronavirus pandemic accelerates digital trends that were already gaining traction prior to the health crisis. Mobile gaming, a key segment of its business, has experienced blockbuster gains as homebound consumers seek new outlets for entertainment. The category has seen 28% audience growth since the pandemic’s outset, recent Facebook research revealed, and many new