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Matomy Media Group (MTMY)

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Wednesday 15 August, 2018

Matomy Media Group

Matomy Announces Sale of Its Email Activity

RNS Number : 9457X
Matomy Media Group Ltd
15 August 2018
 

FOR IMMEDIATE RELEASE

August 15, 2018

 

 

Matomy's Sells Whitedelivery to 1029 HOLDINGS INC for up to $8.5M

Sale reinforces strategic decision to exit non-core businesses

Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) announced today that it has signed an agreement for the sale of its Whitedelivery email marketing activity to 1029 HOLDINGS INC for a maximum total of $8.5 million consisting of a cash payment, data-licensing and performance-based payments subject to meeting pre-defined milestones. The sale is subject to completion of certain transition processes by September 1, 2018.

The transaction is in line with Matomy's strategy to focus attention and resources on its core activities which have strong competitive advantage, domain monetisation and programmatic in-app mobile advertising. The sale also reflects Matomy's commitment to exit its non-core businesses, thereby reducing operational costs, raising profitability, and creating further value for its stakeholders.

Commenting today, Liam Galin, President and CEO of Matomy said: "As previously communicated and acted upon, Matomy's management is focused on developing and strengthening our core activities to greatly enhance our value. This laser sharp focus will allow us to further elevate and develop the potential of our offerings while providing our partners the best data-driven tools and platforms they require to meet and surpass their goals."

The information contained within this announcement may be deemed by Matomy to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

About Matomy

Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) is a global media company with a portfolio of superior data-driven platforms empowering advertising and media partners to meet their evolving growth-driven goals. Matomy's programmatic platforms include Team Internet and the Mobfox SSP. Founded in 2007 with headquarters in Tel Aviv and seven offices around the world, Matomy is dual-listed on the London and Tel Aviv Stock Exchanges.

 

Press Contact

Justine Rosin

[email protected]

UK: 0203-769-5656 | USA:  917-724-2176

 

 


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