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
- Industry
- Marketing & Advertising
- Location
- North Carolina, United States
- Transaction Type
- Buyout
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