Matomy to exit non-core businesses in strategic restructuring

Matomy Media Group plans to complete the exit from most non-core businesses before the end of the third quarter as it moves to a new strategic focus.

It said this significant strategic restructuring was to focus on those activities with the highest potential for sustainable growth and profitability.

"As a result, Matomy will focus its resources on programmatic mobile and video advertising and domain monetisation," the company said.

"Matomy will be exiting a broad range of other activities that are no longer core to Matomy's long-term strategy."

It planned to complete the exit from most non-core businesses before the end of the third quarter.

Matomy also said it expected to incur certain one-off redundancy and short-term operational costs related to the restructuring, although it did not expect those to be material in total.

"The restructuring is expected to result in a materially leaner and more flexible cost structure, thus having an immediate impact on overall profitability and operational cash generation," the company said.

These measures were expected to reduce operational costs on a run rate basis in excess of $10m a year.