Mandalay Digital Group Acquires Appia; Will Rebrand as Digital Turbine

November 13, 2014

Mandalay Digital Group, through its Digital Turbine business, agreed to acquire Appia, a leading independent mobile app install and user-acquisition network, in a stock-and-debt transaction announced November 13, 2014. The deal issues Appia stockholders equity in Mandalay (at $4.50 per share implied) and is intended to create a unified mobile app and advertising ecosystem, delivering revenue synergies and cost savings; Mandalay plans to change its name to Digital Turbine.

Buyers
Mandalay Digital Group, Inc. (Digital Turbine)
Targets
Appia
Sellers
Appia stockholders, Trident Capital, Venrock, DCM, Noro-Moseley Partners, Wakefield Group, Relay Ventures, TomorrowVentures
Location
North Carolina, United States
Transaction Type
Buyout

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