ValueClick has acquired Greystripe for approximately $70 million in cash. Greystripe is a leading brand-focused mobile advertising network. Greystripe’s management team and employee base have been retained by ValueClick, and the business will be run as a wholly-owned subsidiary within ValueClick Media.
For the remainder of 2011, Greystripe is expected to contribute to ValueClick’s consolidated results approximately $24-$26 million in revenue and $2-$3 million in adjusted-EBITDA.
Greystripe’s proprietary advertising platform serves billions of rich media impressions to over 30 million users of touch-driven devices through more than 3,500 application titles and mobile websites across all major mobile platforms.
“Greystripe accelerates ValueClick’s move ‘up the marketing funnel’ with brand advertisers and gives ValueClick Media immediate scale and expertise in the large and fast-growing mobile ad market,” said Jim Zarley, chief executive officer of ValueClick. “We see great traffic and revenue synergies between ValueClick and Greystripe, and we’re looking forward to working closely with the Greystripe team to take full advantage of the opportunities that this combination offers.”
Montgomery & Co. acted as financial advisor to Greystripe. Steamboat Ventures, Monitor Ventures, Peacock Equity, and Incubic Venture Capital were investors in Greystripe.
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