Mobile Embrace acquires Vizmond Media
Mobile marketer Mobile Embrace acquires Vizmond Media for $2.5m initial payment
Mobile marketing and payments company Mobile Embrace Limited has announced the acquisition of Vizmond Media, a profitable and technologically advanced online and mobile performance marketing business.
Vizmond Media has been acquired by Mobile Embrace for a total upfront consideration of $2.5 million plus potential contingent consideration of up to a further $3.5 million over 3 years and subject to profit before tax targets through to 2018. Vizmond is forecast to deliver FY2016 revenue of $2.5 million and $1 million EBITDA.
Mobile Embrace also announced Vizmond Media’s managing director Brett Tompson will be joining the company continuing on a three-year performance contract aligning himself with Mobile Embrace’s strategic growth plan.
