Digital Turbine Inc. (NASDAQ: APPS) shares have increased nearly 6% to $76.6 in after-hours trading on Thursday. During the last trading session, Digital Turbine stock lost -1.63%, closing at $72.38.
A total of 1.91 million shares of APPS stock were traded, far lower than its 100-day average of 3.71 million shares. Announcing the completion of an acquisition, APPS stock spiked.
What was the acquisition?
With Digital Turbine, it’s easy for consumers to discover new content and to receive relevant content directly to their devices. On-demand media platform powered by APPS powers frictionless discovery of apps and content, entices user engagement, management efficiency, and monetization opportunities.
Over 40 mobile operators and OEMs worldwide have adopted APPS’ technology platform. More than three billion app preloads have been delivered through APPS for tens of thousands of advertising campaigns. With offices in Arlington, Durham, Mumbai, San Francisco, Singapore, and Tel Aviv, APPS is headquartered in Austin, Texas.
It has been announced today that Digital Turbine has completed its acquisition of AdColony Holding AS. More than 1.5 billion monthly global users use AdColony’s platform to serve advertisers and publishers.
The acquisition of AdColony complements APPS’ stated strategy to enhance the end user’s mobile experience by delivering highly relevant content in the digital media channel. It delivers industry-leading third-party verified viewability rates for well-known global brands, like Disney, Amazon, and BMW, with Ad Colony’s proprietary video technologies and rich media formats.
What APPS will be getting?
As a result of the addition of AdColony, Digital Turbine (APPS) will be able to provide mobile publishers and advertisers worldwide with more services, reaching, and capabilities. With performance-based spending trends among established brands, platforms with unique capabilities to deploy across exclusive inventory access could offer material upside opportunities to APPS.