engage:BDR, an advertising and influencer marketing company, just announced they will acquire AdCel, a mobile monetization platform, for $4.5 million.
By acquiring AdCel, engage:BDR will be able to increase its current integrations to 126 and add over 6,000 exclusive new apps to its publisher supply portfolio. This will be the second acquisition for engage:BDR in the last 2 years.
The proposed acquisition is expected to immediately add AUD $2 million in revenues in the first full year after completion of the acquisition and to deliver up to AUD $5 million in additional revenues to the company in the first full year based on the ability of the company to almost immediately increase its client integrations from 86 to 126.
The acquisition of the AdCel business will also deliver over 6000 Applications (“Apps”) to the combined entity, which will significantly increase the combined Company’s advertising inventory available for sale.
The company has also conducted an associated capital raising, to a range of institutional and sophisticated investors, to raise AUD $ 2,000,000 at $0.16 cents per share to complete the acquisition and for working capital and will shortly undertake a share purchase plan for existing eligible shareholders on similar terms.