202426 Apr

Azerion continues expansion in the Nordics by acquiring 26% of Eniro

Summary

This collaboration aims to offer new digital marketing opportunities to Eniros 50,000 advertisers and gives them access to localised and engaged audiences across Azerions media network, including channels such as Digital-Out-of-Home and Audio. Additionally, Eniros search sites bring an audience of close to 10 million unique users in a new environment made available to Azerions Nordic advertisers.Furthermore, Azerion will leverage its expertise in digital advertising delivery to help Eniros optimise its operations, resulting in improved efficiency and effectiveness for advertisers on both platforms. Intressenter AB at first closing, expected to be 15 May 2024, at an implied value of 2.75 per share, subject to a 12-month lock-up period, together with SEK 73.5 million in cash. As a sign of our belief in a prosperous cooperation for both parties, we have also decided to be a long-term shareholder in Azerion.About AzerionFounded in 2014, Azerion (EURONEXT: AZRN) is one of Europes largest digital advertising and entertainment media platforms. Azerion brings global scaled audiences to advertisers in an easy and cost-effective way, delivered through our proprietary technology, in a safe, engaging, and high quality environment, utilising our strategic portfolio of owned and operated content with entertainment and other digital publishing partners.Having its roots in Europe and with its headquarters in Amsterdam, Azerion has commercial teams based in over 24 cities around the world to closely support our clients and partners to find and execute creative ways to make a real impact through advertising.With a strong growth strategy and focus on integrating new companies into its platform, Azerion continues to build a future where digital content and advertising go hand in hand.Eniro operates as a marketing-as-a-service company providing essential digital marketing services tailored to micro, small, and medium-sized businesses across Sweden, Norway, Denmark, and Finland.

Source: Globenewswire

Funding

$15.71M
Amount
Apr 26 2024
Date
-
Investor
Eniro
Company

Classifications

Companies