Taptica in advanced talks to buy RhythmOne
Taptica confirmed on Wednesday that it is in advanced discussions with RhythmOne about a potential takeover of the company in an all-share deal.
FTSE AIM 100
3,560.71
16:39 05/11/24
n/a
n/a
FTSE AIM All-Share
736.29
16:50 05/11/24
n/a
n/a
Media
12,872.61
16:59 05/11/24
0.99%
126.43
Nexxen International LTD (DI)
307.50p
16:39 05/11/24
-0.81%
-2.50p
Rhythmone
169.50p
16:34 29/03/19
0.00%
0.00p
Software & Computer Services
2,407.21
16:59 05/11/24
0.03%
0.66
The transaction would see Taptica own 50.1% of the enlarged group, while RhythmOne would own the rest.
Taptica said:"The combination of the two businesses would create one of the leading video advertising companies in the US, delivering significant economies of scale, product offering, revenue synergies and supply chains to compete with the industry leaders, in an industry where scale of offering is key."
As part of the deal, Taptica would issue 16 new shares in exchange for 19 RhythmOne shares.
At 0900 GMT, Taptica shares were up 16.4% to 195p and RhythmOne shares were down 0.5% at 186.30p.