Updating the market, London AIM-listed industry affiliate marketing and player acquisition firm XLMedia has confirmed that it has moved to acquire Marmar Media outright.
Moving forward, XLMedia will purchase the remaining 46% of Marmar Media equity for a reported sum of $2.4 million (€2 million).
Seeking to expand its mobile marketing capabilities, XLMedia first acquired a 54% stake in Israel-based Marmar Media in June 2015, a digital marketing company focused on mobile app and software downloads.
Updating investors, XLMedia governance detailed the successful performance of its Marmar media investment which during the 12 months to December 31, 2016, posted revenues of $11.7 million, combined with profits before tax of $2.5 million.
Issuing a corporate statement, XLMedia commented on the outright acquisition of Marmar Media
“The acquisition of the remaining 46% stake in Marmar is expected to enable XLM to further strengthen the group’s media channel growth, enable the group to extract additional synergies, run an increased number of campaigns and continue the diversification of the group’s revenue and customer base.”