RhythmOne Buys Engagement and Targeting Platform Perk

Digital media company RhythmOne is to acquire Toronto-listed Perk, whose insights and intelligence solution Perk IQ allows brands to target specific audience segments. The all-stock transaction is valued at approximately $42.5m.

Perk's platform helps brands connect with consumers, while the Perk IQ tool allows them to measure performance, gathering data on advertising attribution, brand impact, in-store visits and purchasing behaviour. Perk IQ also provides access to custom research and analytics.

The deal gives Perk access to more than 600 brands, 441 million unique users and relationships with over 900 professional publishers, according to RhythmOne which specialises in connecting online audiences with brands through premium content across devices. Perk's senior management team will join RhythmOne, and Perk CEO Ted Hastings (pictured) comments: 'We have built a large and engaged mobile audience and we have been evaluating options to accelerate growth and scale. This transaction improves our overall scale of operations, advertiser reach, balance sheet and stock liquidity, while providing a material premium to Perk shareholders'.

Web sites: www.rhythmone.com and www.ir.perk.com .