AppScatter Group PLC (LON:APPS) is to strengthen its app monitoring service with the acquisition of German firm Priori Data for £13.5mln.
Berlin-based Priori runs an app data intelligence operation and combined with appscatter’s existing service will enable the performance of millions of apps and billions of devices to be analysed, said Philip Marcella, chief executive.
WATCH: AppScatter strengthens monitoring service with Priori Data acquisition
“The acquisition would mark a major step forward in our quest to become the go-to source of information in the app ecosystem, in particular given the scarcity of companies with the quantity of data held by Priori”
Combining the data from both companies would enable brands, app publishers, advertising agencies and mobile networks to conduct more targeted demographic campaigns, he added.
“Priori publishers and clients will benefit from wider distribution of their mobile apps across 75 app stores and appScatter clients will benefit from new services including keyword (ASO), app and market intelligence.”
Appscatter will raise £15mln through a placing at 70p to help pay for Priori, with £9.45mln of the consideration in cash and £4.05mln in shares.
A majority of existing investors have already indicated a willingness to subscribe, it added.
In a trading update that accompanied the acquisition, appscatter said development was on track with revenues of approximately £1.9mln in 2017 and a loss before interest and tax of approximately £6.5mln.
This year, 2018, had started well said the statement with numerous potential partnerships under discussion, which if concluded, would further boost revenues.
Priori's turnover in 2017 was €1.06mln with underlying losses of €410,000.