Benzinga | Mar 3, 2021 08:28AM EST

Digital Turbine Acquires Programmatic Mobile Advertising DSP Company Triapodi For $22.5M

Digital Turbine Inc (NASDAQ: APPS) announced the acquisition of Israel's programmatic mobile advertising DSP (Demand Side Platform) company Triapodi Ltd. (d/b/a Appreciate) for $22.5 million in cash. It also includes an additional consideration of $6 million in performance and retention bonuses.

* Appreciate's platform works with mobile measurement partners (MMPs), exchanges, advertisers to programmatically optimize user-acquisition and ROI for the mobile marketers utilizing its platform.

* Appreciate currently scores 60 billion daily auctions on its platform.

* The acquisition is in line with Digital Turbine's strategy to provide a wide-ranging media and advertising solution for its operator and OEM partners and enriching the mobile experience for end-users.

* Digital Turbine CEO Bill Stone expects ad-tech and algorithmic expertise from the acquisition, including synergies associated with the AdColony business. Digital Turbine recently acquired AdColony from Otello for $400 million.

* Price action: APPS shares are trading higher by 3.89% at $96.64 in the premarket session on the last check Wednesday.