Tremor International in talks to buy US rival Amobee

dl tremor international aim television connected advertising service server over the top streaming technology — Tremor InternationalSharecast graphic / Josh White

Nexxen International LTD (DI)

402.00p

12:40 24/12/24

1.39%

5.50p

Tremor International confirmed on Tuesday that it is in talks with California-based rival Amobee about a possible takeover of the company.

Responding to press speculation, the AIM-listed advertising technology platform said it was in discussions with Amobee, "alongside a number of ongoing strategic discussions with other third parties, which is considered normal course of business by management and in line with its stated M&A policy".

There can be no certainty that the potential acquisition of Amobee will be completed, Tremor said, and no final terms of the potential acquisition have been agreed. It added that further announcements will be made in due course as appropriate.

Tremor also announced in a separate statement that it had agreed to make a strategic $25m investment in VIDAA, a smart TV operating system and streaming platform, and a subsidiary of Hisense, preinstalled on a majority of TVs manufactured by Hisense.

The investment is expected to close in the third quarter of the year.

At 1230 BST, the shares were up 4.2% at 371p.