Taptica Raises Funds for Mergers and Acquisitions

Israeli digital ad tech firm Taptica has raised around £21.8m ($30m) through a placement of shares, the proceeds of which will be used to reduce the firm's debt and pursue merger and acquisition opportunities.

Taptica offers proprietary tools for real-time analysis of behavior at the unique user level, tracking clicks, installs and impressions to measure the quality of new users based on their demographics, engagement, and spending patterns. Last year, the company acquired Tremor Video's DSP, which offers cross-screen US ad targeting as well as metrics on targeting, viewer numbers and brand safety.

Through the fundraising exercise, Taptica placed 4,850,000 new ordinary shares at a price of 450 pence each; representing approximately 7.73% of the company's current issued ordinary share capital. CEO Hagai Tal (pictured) comments: 'The funds raised will reduce the level of debt under the company's existing debt facility, which we believe will better position the company to capitalise on near-term M&A opportunities. We thank our existing shareholders and welcome new investors to our share register and look forward to updating them on our progress'.

Web site: www.taptica.com .