Advertisers are increasingly turning to mobile and digital advertising News commentary – The outbreak of the COVID-19 pandemic, which has triggered a paradigm shift in the way individuals use different applications, has had a positive impact on the growth of the digital media and digital marketing market. As such, app developers in particular have been revamping their advertising setups and improving their capabilities to push for more accountability and transparency with partners in the wake of the pandemic outbreak and subsequent economic downturn. For example, in September 2020, HubSpot, Inc. of the United States announced the introduction of new updates and features to its platforms to help businesses meet the challenges posed by the outbreak of the pandemic. Additional features include enterprise sales CRM, extensive personalization functionality, and scalable contact pricing models. A report by Grand View Research has projected the global Digital Marketing Software market size to be valued at $56.52 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 19.1% from 2022 to 2030. Companies active in the market this week include Troika Media Group, Inc. (NASDAQ: TRKA), Quin Street, Inc. (NASDAQ: QNST), Advantage Solutions Inc. (NASDAQ:ADV), The Interpublic, Inc. group of companies. (NYSE:IPG), AdTheorent Holding Company, Inc.. (NASDAQ: ADTH).

Marketing Technology News: The State of Virtual Events 2022: Keys to Continued Success

The Grand View Research report stated, “The growth of the market can be attributed to the increasing preference of individuals for mobile devices to obtain information on the go and subsequently to the continued transition from desktop computers to smartphones. . The growth can also be attributed to the proliferation of smartphones, which has sparked the consumption of digital media and is prompting marketers to run more online advertisements on social media and other digital platforms for greater exposure and more. of visibility. The continuous shift from wired to wireless communication and subsequently increasing adoption of wireless communication devices, which is expected to trigger the consumption of digital media, also bodes well for the growth of the market in during the forecast period. Advertising companies are increasingly tracking digital marketing channels and providing publishers with advanced advertising capabilities. »

Troika Media Group, Inc. (NASDAQ: TRKA) RECENT NEWS: Troika Media Group to acquire Converge Direct LLC, a leading digital and offline performance media and marketing company, to $125 million Troika Media Group, Inc. (“TMG” or “Company”), a brand consulting and marketing innovations company that provides integrated branding and marketing solutions for global brands, today announced that it had entered into a definitive purchase agreement (the “Purchase Agreement”) to acquire Converge Direct LLC and its affiliates (collectively, “Converge”), a leading independent marketing and customer acquisition company for $125 million (collectively, the “Acquisition”). The acquisition has been unanimously approved by the boards of directors and the majority of shareholders of Troika and Converge. The transaction should be completed no later than March 15subject to satisfaction of customary closing conditions.

Since its inception in 2006, Converge and its subsidiaries have achieved approximately $300 million annualized turnover and $23 million adjusted EBITDA for the year ended December 31, 2021. Converge is a leading independent performance marketing and managed services company. Converge provides customer acquisition services using a wide range of engagement channels across digital, offline and emerging media industries. Converge uses a business intelligence-centric approach to its media strategy, planning and buying to achieve customer acquisition goals and customer KPIs to achieve scale, efficiency and /or the realization of prospects on time. Converge’s proprietary solutions and HELIX’s intelligent enterprise software provide customers with best-in-class customer acquisition metrics. Converge’s 85 full-time employees are expected to join Troika upon closing of the acquisition and the combined company will have approximately 200 full-time employees.

Transaction details – Troika has signed a binding purchase agreement to acquire Converge for a total consideration of $125 million. Troika will fund the transaction with a combination of new debt financing, a restricted equity allotment and cash available at closing. Troika is committed to the majority of the purchase price in the form of a senior secured credit facility.

Upon closing, Converge’s management team will enter into long-term employment agreements and assume active leadership roles in the combined business. Sid Toamaformer Chief Operating Officer of Converge, will join Troika’s Board of Directors and serve as President of Troika. Tom Marianacci, founder and CEO of Converge will remain CEO of the Converge entities and will be an advisor to the board of directors of Troika. Other members of Converge’s management team have agreed to join Troika to ensure the continuity of Troika’s strategy, growth and leadership.

“We are very excited and excited about the opportunity to combine our two great businesses and leverage our collective resources and expertise to accelerate profitable growth,” said Robert Machinist, President and CEO of Troika. “Troika has a long and deep history with leading global brands who rely on us to build trust and engage customers and fans. The acquisition of Converge will put us in the sweet spot of digital content, data and digital media growth, moving from brand awareness and trial to large-scale conversion. With strong revenue growth, strong margins and significant shareholder participation in the combined entities, we believe this transaction deepens and expands our digital customer offerings. As a result, we expect this to significantly improve shareholder value. »

Marketing Technology News: MarTech Interview with Stacy Adams, Head of Marketing at Vyond

Other recent market developments include:

Quin Street, Inc. (NASDAQ: QNST), a leader in performance markets and technologies for the financial services and home services industries, recently announced its financial results for the second fiscal quarter ended December 31, 2021. For the second fiscal quarter, the company reported revenue of $125.3 million. . Revenue was down 7% year over year. GAAP net loss for the second quarter of the fiscal year was $5.6 million, or ($0.10) per diluted share. Adjusted net earnings were $3.2 million, or $0.06 per diluted share. Adjusted EBITDA for the second quarter of the fiscal year was $5.6 million. The Company generated $13.9 million in cash flow from operations during the second quarter of the fiscal year and ended the quarter with $115.0 million in cash and cash equivalents.

“Insurance customer spending was further impacted in the December quarter by the widely reported effects of rising claims costs,” commented Doug Valenti, CEO of QuinStreet. “Insurance spending rebounded strongly in January, but was more volatile than expected as carriers adjust to a rapidly changing environment for claims and costs. We expect the current market volatility insurance lasts for about another three to six months and then returns to more normal market conditions and increased momentum thereafter Momentum in non-insurance verticals remains strong We are also seeing good progress with growth initiatives, including QRP QRP revenue is now expected to exceed $1 million per month by June.

The Interpublic, Inc. group of companies. (NYSE:IPG) Philip Krakow, CEO of IPG recently said, “As our results show, the combination of strategy, talent and culture that we have built at IPG continues to drive a high level of innovation, collaboration and creativity. Our strong performance reflects more than the cyclical economic recovery, it further validates the growing role we play with marketers as they adapt and improve their businesses to meet the challenges and seize the opportunities of the digital economy.

“Clients are increasingly looking for partners with expertise in first-party data management, performance media, creative advertising technologies and direct-to-consumer commerce, areas in which we remain very well positioned. During the quarter and throughout the year, our top agency brands increasingly tapped into IPG’s core technology and data layer. Across all marketing disciplines, channels and use cases, our combination of data, technology and creativity results in a growing range of effective marketing and media solutions that help our clients grow their brands and grow their businesses.

AdTheorent Holding Company, Inc.. (NASDAQ:ADTH), a leading programmatic digital advertising company using advanced machine learning technology and privacy solutions to deliver measurable value to advertisers and marketers, recently announced that it would publish its financial results for its fourth quarter and its fiscal year ended December 31, 2021 to Thursday, March 3, 2022 after market close. AdTheorent will host a conference call and webcast at 4:30 p.m. Eastern Time the same day to discuss its financial results.

Marketing Technology News: Pandemic slashes commute times and makes microcasting the new normal for podcasters

About Deborah Wilson

Check Also

Advertising function | How the BMW M3 Competition Touring was born

Convince the bosses Despite a whirlwind of rumors, the BMW M3 Touring Concept remained resolutely …