DG announced a definitive agreement to acquire privately held Peer39 Inc., a provider of webpage level data for approximately $15.5 million in cash and stock.
DG will pay $10 million in cash, issue approximately 357,000 shares and assume $2.3 million earn out payment. Subject to customary terms and closing conditions, the transaction is expected to close within a few days.
Neil Nguyen, CEO of DG, said “The Peer39 solution complements existing data-driven solutions offered by MediaMind, strengthening our offering to the RTB trading market.” “Since the data is strictly about the content and structure of web pages, it’s a cookie-free solution that is integral to buying (and selling) advertising online”, added.
Peer39’s employees will join MediaMind, DG’s online division, and Peer39’s CEO Andy Ellenthal will become DG’s Executive Vice President of Sales and Ad Operations for both the TV and Online divisions, reporting directly to Neil Nguyen, CEO of DG.
Separately, DG announced that preliminary first quarter 2012 revenues will be approximately $92.7 million, benefitting from a slight outperformance by the TV business. The company will provide complete financial details for the quarter on May 9, 2012.
DG connects over 11,000 global advertisers and agencies with their targeted audiences through an expansive network of over 6,000 television broadcast stations and over 11,500 web publishers in 75 countries.