- Software company Yangaroo (YOO) has finalized a deal to acquire Digital Media Services
- The deal marks Toronto-based Yangaroo’s first acquisition
- Digital Media is an advertising and content management delivery business based in New York City
- Yangaroo will pay a total of US $5.0 million for the company, contingent on certain revenue targets
- Yangaroo is up 26.43 per cent, trading at C$0.26 at 10:31 am ET
Software company Yangaroo (YOO) announced the company has finalized a deal to acquire Digital Media Services.
The deal marks the first-ever acquisition for Yangaroo, which specializes in media asset workflow and distribution solutions.
Digital Media Services is a TV, OTT, CTV and video advertising and content management delivery business based in New York City.
The acquisition brings together two industry-recognized organizations.
“DMS, our first strategic acquisition for Yangaroo, brings together a complementary customer base, creates a stronger USA market presence, and provides the ability to drive Yangaroo’s revenue growth further. This now presents us with a compelling opportunity to significantly scale our service offering for advertisers delivering creative and promotional content to destinations across the linear, OTT, and CTV broadcasters, and the radio broadcasting and streaming networks,” said Yangaroo Chief Executive Officer Grant Schuetrumpf.
The acquisition allows both companies to offer a greater level of service to customers.
Yangaroo will acquire the business for a total consideration of USD $2.5 million paid on closing with an additional $3.0 million to be paid over three years and contingent on the DMS business hitting certain revenue targets.
Yangaroo is up 26.43 per cent, trading at C$0.26 at 10:31 am ET.