Digital Turbine announced recently that it has completed the $400 million acquisition of AdColony, first announced in late February.
Digital Turbine revealed in a statement that AdColony’s revenue for the first quarter ended March 31 is estimated to be approximately $58.3 million, up 37% as compared to the first quarter of 2020. Mobile ad platform AdColony has reached over 1.5 billion monthly global users so far.
Having partnerships with more than 40 operators and OEMs, Digital Turbine aims to provide a comprehensive media and advertising solution for its OEM and operator partners, as well as “enriching the mobile experience for end users by delivering highly relevant content”.
“We are excited to have formally closed the acquisition of AdColony,” said Bill Stone, CEO of Digital Turbine. “We believe that this strategic transaction, along with the previously completed acquisition of Appreciate and pending completion of the Fyber acquisition, will synergistically accelerate our growth and is a real positive for our partners, advertisers, employees and shareholders.
Following the completion of the acquisition, AdColony will continue its operations under the roof of Digital Turbine.
Digital Turbine’s revenue for the full fiscal year 2021 is expected to be approximately $313.6 million, an increase of 126% as compared to revenue of $138.7 million reported in fiscal year 2020. The company expects revenue of between $135 million and $140 million for the first quarter of fiscal 2022.
“With the addition of AdColony, we will expand our collective experience, reach and suite of capabilities to benefit mobile advertisers and publishers around the globe. Performance-based spending trends by large, established brand advertisers present material upside opportunities for platforms with unique technology deployable across exclusive access to inventory.” Stone said.