Adcore Inc (TSX:ADCO) announced that it has established Adcore US Inc, a wholly-owned Delaware-based subsidiary, as part of its strategic plan to expand its operations to address increasing demand for digital marketing solutions in the US market.
Since becoming a public company, the e-commerce advertising management and automation platform said it has rapidly expanded its global operations and broadened its reach by providing its digital marketing technologies and services to local customers in key geographical locations. It has existing offices in Toronto, Tel Aviv, Melbourne, Hong Kong and Shanghai.
As part of its global expansion strategy, it said it made the strategic decision to focus more on the US market, which is projected to reach $304 billion in digital ad spend by 2025. The establishment of the new subsidiary will set the foundation for a much larger activity in this important market, it added.
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"The US represents a tremendous opportunity for our digital marketing solutions," CEO Omri Brill said in a statement.
"In conjunction with our recent trading commencement on the OTCQX and obtaining DTC eligibility, we have established this subsidiary as a fundamental step towards increasing our market penetration in the US,” he added.
The company said it is targeting increased activity in the US as early as the fourth quarter of this year and expects the market to develop into a key growth driver in 2022 and beyond.
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